United Advisor Group LLC Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

United Advisor Group LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 240.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,329 shares of the company’s stock after acquiring an additional 11,534 shares during the period. United Advisor Group LLC’s holdings in Pinterest were worth $529,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PINS. Brown Shipley& Co Ltd bought a new stake in Pinterest during the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest during the second quarter worth about $26,000. Hexagon Capital Partners LLC increased its position in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the last quarter. GAMMA Investing LLC raised its stake in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Pinterest during the second quarter valued at approximately $35,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Price Performance

Shares of PINS opened at $32.73 on Wednesday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a 50 day simple moving average of $31.77 and a two-hundred day simple moving average of $36.37. The firm has a market cap of $22.46 billion, a P/E ratio of 121.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02.

Wall Street Analyst Weigh In

PINS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective for the company. Raymond James lowered their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price objective on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Oppenheimer assumed coverage on Pinterest in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Evercore ISI dropped their price objective on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.56.

About Pinterest

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.