Pinterest, Inc. (NYSE:PINS) Position Boosted by Quest Partners LLC

Quest Partners LLC raised its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 1,109.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,796 shares of the company’s stock after acquiring an additional 8,986 shares during the quarter. Quest Partners LLC’s holdings in Pinterest were worth $317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Leibman Financial Services Inc. grew its stake in shares of Pinterest by 0.9% in the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after buying an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after buying an additional 313 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after buying an additional 319 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after buying an additional 372 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. grew its stake in shares of Pinterest by 1.6% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock valued at $1,022,000 after buying an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 1.6 %

Shares of NYSE PINS opened at $30.51 on Tuesday. The business has a fifty day simple moving average of $31.73 and a 200 day simple moving average of $35.76. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 101.70, a PEG ratio of 2.15 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

Analyst Ratings Changes

Several brokerages recently commented on PINS. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Raymond James decreased their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Citigroup decreased their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company decreased their target price on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities decreased their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,580 shares of company stock worth $1,063,499 over the last three months. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.