Axxcess Wealth Management LLC Buys 605 Shares of Pinterest, Inc. (NYSE:PINS)

Axxcess Wealth Management LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,965 shares of the company’s stock after buying an additional 605 shares during the period. Axxcess Wealth Management LLC’s holdings in Pinterest were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Leibman Financial Services Inc. boosted its holdings in Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after buying an additional 266 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Pinterest by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Pinterest by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after purchasing an additional 319 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Pinterest by 0.7% during the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after purchasing an additional 372 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. lifted its holdings in shares of Pinterest by 1.6% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock valued at $1,022,000 after purchasing an additional 373 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PINS. Rosenblatt Securities cut their price objective on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Raymond James cut their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Susquehanna dropped their target price on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research report on Thursday, September 12th. 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. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Trading Down 2.1 %

PINS stock opened at $29.36 on Friday. The firm has a market capitalization of $20.15 billion, a PE ratio of 98.77, a PEG ratio of 2.34 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The business’s 50 day simple moving average is $31.76 and its 200 day simple moving average is $36.27.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, 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 insiders.

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.