Nwam LLC Purchases Shares of 92,456 Pinterest, Inc. (NYSE:PINS)

Nwam LLC purchased a new stake in Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 92,456 shares of the company’s stock, valued at approximately $2,993,000.

Several other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in Pinterest by 9.5% in the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after purchasing an additional 880,398 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Pinterest by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock worth $262,695,000 after acquiring an additional 380,431 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Pinterest by 31.6% during the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after acquiring an additional 1,356,459 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

Shares of NYSE PINS opened at $30.01 on Friday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company’s 50-day moving average is $31.71 and its 200 day moving average is $35.93. The stock has a market capitalization of $20.28 billion, a P/E ratio of 100.04, a P/E/G ratio of 2.10 and a beta of 1.02.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, 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. In the last quarter, insiders have sold 32,580 shares of company stock worth $1,063,499. Company insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company dropped their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Finally, Raymond James dropped their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Company 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.