180 Wealth Advisors LLC Boosts Stake in Pinterest, Inc. (NYSE:PINS)

180 Wealth Advisors LLC increased its position in Pinterest, Inc. (NYSE:PINS) by 40.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its position in Pinterest by 5.2% during the third 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 during the period. Hantz Financial Services Inc. raised its position in Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after purchasing an additional 339 shares during the period. Leibman Financial Services Inc. raised its position in Pinterest by 1.2% during the third quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock valued at $1,028,000 after purchasing an additional 368 shares during the period. Toronto Dominion Bank raised its position in Pinterest by 0.7% during the second 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 during the period. Finally, Commerce Bank raised its position in Pinterest by 3.3% during the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after purchasing an additional 378 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at approximately $967,295.28. This represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,007 shares of company stock worth $554,137. Insiders own 7.11% of the company’s stock.

Pinterest Trading Up 2.9 %

Shares of NYSE PINS opened at $30.65 on Thursday. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The stock’s fifty day simple moving average is $30.46 and its two-hundred day simple moving average is $32.58. The stock has a market capitalization of $20.71 billion, a PE ratio of 102.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.04.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of recent research reports. TD Cowen initiated coverage on Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective on the stock. KeyCorp cut their target price on Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a research note on Monday. Wells Fargo & Company cut their target price on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Robert W. Baird cut their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Nine 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. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $40.86.

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.