Steph & Co. Raises Stock Position in Pinterest, Inc. (NYSE:PINS)

Steph & Co. raised its stake in shares of Pinterest, Inc. (NYSE:PINS) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,048 shares of the company’s stock after buying an additional 425 shares during the period. Steph & Co.’s holdings in Pinterest were worth $204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PINS. Assenagon Asset Management S.A. increased its position in shares of Pinterest by 582.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock valued at $65,741,000 after purchasing an additional 1,934,653 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in Pinterest by 40.6% during the fourth quarter. 180 Wealth Advisors LLC now owns 10,711 shares of the company’s stock valued at $311,000 after buying an additional 3,094 shares during the last quarter. Leibman Financial Services Inc. raised its position in Pinterest by 102.2% in the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock worth $1,862,000 after acquiring an additional 32,464 shares during the period. Pallas Capital Advisors LLC boosted its stake in shares of Pinterest by 49.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 23,304 shares of the company’s stock worth $676,000 after acquiring an additional 7,709 shares during the last quarter. Finally, Claro Advisors LLC bought a new stake in shares of Pinterest during the 4th quarter valued at $226,000. 88.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PINS. Raymond James lowered their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. Morgan Stanley raised their target price on shares of Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, January 10th. Finally, Piper Sandler downgraded shares of Pinterest from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $41.00 to $36.00 in a research report on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.86.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,007 shares of company stock worth $554,137. Company insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of PINS stock opened at $30.65 on Thursday. The company has a market cap of $20.71 billion, a PE ratio of 102.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The stock’s 50 day simple moving average is $30.46 and its two-hundred day simple moving average is $32.58.

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.