Pinterest, Inc. (NYSE:PINS) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 6.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,783 shares of the company’s stock after buying an additional 2,997 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Pinterest were worth $1,514,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd acquired a new position in Pinterest during the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest in the second quarter valued at $26,000. Hexagon Capital Partners LLC raised its stake in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of Pinterest during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

PINS has been the topic of several research analyst reports. Morgan Stanley raised their target price on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Robert W. Baird reduced their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Oppenheimer dropped their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Susquehanna reduced their price target on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The shares were 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 approximately $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by company insiders.

Pinterest Trading Down 3.8 %

PINS stock opened at $28.24 on Monday. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 94.14, a PEG ratio of 2.02 and a beta of 1.02. The firm has a 50 day moving average of $31.71 and a 200-day moving average of $36.21. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

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.