180 Wealth Advisors LLC Raises Stock Holdings in Pinterest, Inc. (NYSE:PINS)

180 Wealth Advisors LLC increased its position in Pinterest, Inc. (NYSE:PINS) by 40.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,711 shares of the company’s stock after buying an additional 3,094 shares during the period. 180 Wealth Advisors LLC’s holdings in Pinterest were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Maverick Capital Ltd. grew its position in Pinterest by 47.6% during the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after purchasing an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Pinterest by 8.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after purchasing an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA grew its position in Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after purchasing an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. grew its position in Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after purchasing an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its position in Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after purchasing an additional 68,096 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PINS. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research report on Monday, October 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a research report on Monday. Robert W. Baird dropped their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft began coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price on the stock. Finally, Oppenheimer dropped their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $40.86.

Pinterest Stock Performance

PINS stock opened at $30.65 on Thursday. The firm has a market cap of $20.71 billion, a PE ratio of 102.17, a PEG ratio of 2.17 and a beta of 1.04. The firm’s 50 day moving average price is $30.46 and its 200-day moving average price is $32.58. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the sale, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. The trade was a 3.41 % 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 valued at $554,137. 7.11% of the stock is currently owned by company insiders.

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.