Driehaus Capital Management LLC grew its holdings in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 75.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 654,944 shares of the company’s stock after purchasing an additional 282,054 shares during the quarter. Driehaus Capital Management LLC’s holdings in Pinterest were worth $28,863,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Shields Capital Management LLC bought a new position in Pinterest during the second quarter worth about $26,000. Hexagon Capital Partners LLC boosted its position in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC boosted its position 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 purchasing an additional 405 shares during the period. Rothschild Investment LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $35,000. Finally, International Assets Investment Management LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $40,000. Institutional investors own 88.81% of the company’s stock.
Pinterest Stock Performance
PINS stock opened at $32.48 on Friday. The company has a market capitalization of $22.29 billion, a PE ratio of 154.67, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19. The company’s 50 day moving average price is $31.68 and its two-hundred day moving average price is $36.61.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Morgan Stanley raised their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price objective on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.
Get Our Latest Analysis on PINS
Pinterest Company 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.
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