Empirical Asset Management LLC Takes Position in Pinterest, Inc. (NYSE:PINS)

Empirical Asset Management LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 23,902 shares of the company’s stock, valued at approximately $693,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PINS. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest during the 2nd quarter worth about $25,000. GAMMA Investing LLC increased its position in shares of Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Pinterest during the 3rd quarter worth $37,000. Crewe Advisors LLC lifted its holdings in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares during the period. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird cut their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Roth Mkm lowered their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company cut their price objective on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a research note on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.70.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by insiders.

Pinterest Price Performance

Shares of Pinterest stock opened at $30.50 on Friday. The business has a fifty day simple moving average of $30.41 and a two-hundred day simple moving average of $32.41. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market capitalization of $20.61 billion, a price-to-earnings ratio of 101.65, a P/E/G ratio of 1.52 and a beta of 1.04.

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.