GPS Wealth Strategies Group LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,591 shares of the company’s stock, valued at approximately $98,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its holdings in Pinterest by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 87,719 shares of the company’s stock worth $2,392,000 after purchasing an additional 1,350 shares in the last quarter. ARK Investment Management LLC acquired a new stake in Pinterest during the first quarter worth approximately $12,693,000. Raymond James Financial Services Advisors Inc. raised its holdings in Pinterest by 1.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 95,881 shares of the company’s stock worth $2,615,000 after purchasing an additional 983 shares in the last quarter. Raymond James & Associates grew its position in shares of Pinterest by 15.3% during the first quarter. Raymond James & Associates now owns 127,385 shares of the company’s stock worth $3,474,000 after acquiring an additional 16,897 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Pinterest by 2.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,278 shares of the company’s stock worth $362,000 after acquiring an additional 363 shares during the last quarter. Institutional investors and hedge funds own 75.66% of the company’s stock.
Pinterest Price Performance
Shares of PINS stock opened at $27.64 on Friday. The firm has a 50-day moving average price of $24.05 and a 200 day moving average price of $25.32. Pinterest, Inc. has a twelve month low of $16.77 and a twelve month high of $29.27.
Insider Buying and Selling at Pinterest
In other Pinterest news, CFO Todd R. Morgenfeld sold 60,705 shares of Pinterest stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $26.22, for a total value of $1,591,685.10. Following the completion of the sale, the chief financial officer now owns 384,615 shares in the company, valued at approximately $10,084,605.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Naveen Gavini sold 11,185 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $21.29, for a total transaction of $238,128.65. Following the completion of the sale, the senior vice president now owns 339,322 shares in the company, valued at approximately $7,224,165.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd R. Morgenfeld sold 60,705 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $26.22, for a total value of $1,591,685.10. Following the sale, the chief financial officer now owns 384,615 shares of the company’s stock, valued at approximately $10,084,605.30. The disclosure for this sale can be found here. Insiders sold 579,273 shares of company stock worth $14,607,069 in the last 90 days. 6.85% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on PINS shares. Robert W. Baird lowered their target price on shares of Pinterest from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 28th. Piper Sandler lowered their target price on shares of Pinterest from $32.00 to $31.00 in a research report on Friday, April 28th. Raymond James started coverage on shares of Pinterest in a research report on Wednesday, April 5th. They set an “outperform” rating and a $33.00 target price on the stock. Loop Capital lowered their target price on shares of Pinterest from $32.00 to $28.00 in a research report on Tuesday, May 2nd. Finally, DA Davidson lowered their target price on shares of Pinterest from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 29th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Pinterest currently has an average rating of “Hold” and an average target price of $28.40.
About Pinterest
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.
Featured Stories
- Five stocks we like better than Pinterest
- Is it Time To Ring The Register On Paychex?
- Micron Technology: A Reversal Is Imminent
- Can Topgolf Callaway Brands Crawl Out of the Bunker and Rally?
- McCormick Rebound Imminent: Executive Transition Complete
- 3 Reasons Boston Beer Stock Could Finally Hop Higher
Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.
