Empowered Funds LLC Buys 635 Shares of Pinterest, Inc. (NYSE:PINS)

Empowered Funds LLC grew its stake in Pinterest, Inc. (NYSE:PINS) by 7.4% during the third quarter, Holdings Channel reports. The firm owned 9,165 shares of the company’s stock after purchasing an additional 635 shares during the period. Empowered Funds LLC’s holdings in Pinterest were worth $297,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PINS. Brown Shipley& Co Ltd purchased a new position in Pinterest during the second quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC increased its position in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares during the period. Finally, Rothschild Investment LLC purchased a new position in Pinterest in the second quarter worth $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PINS. Roth Mkm decreased their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Benchmark restated a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research note on Thursday, September 12th. Cantor Fitzgerald restated an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research note on Monday, October 7th. Finally, Barclays lowered their price target on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Stock Performance

Pinterest stock opened at $30.51 on Tuesday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock has a market cap of $20.62 billion, a P/E ratio of 100.07, a PEG ratio of 2.15 and a beta of 1.02. The firm’s fifty day moving average price is $31.73 and its 200-day moving average price is $35.76.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock worth $1,063,499 over the last ninety days. 7.11% of the stock is owned by corporate 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.