Plato Investment Management Ltd Acquires 11,912 Shares of Pinterest, Inc. (NYSE:PINS)

Plato Investment Management Ltd raised its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 79.8% during the third quarter, Holdings Channel.com reports. The fund owned 26,833 shares of the company’s stock after buying an additional 11,912 shares during the period. Plato Investment Management Ltd’s holdings in Pinterest were worth $868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Shipley& Co Ltd bought a new stake in Pinterest during the second quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new stake in Pinterest during the second quarter valued at about $26,000. Hexagon Capital Partners LLC raised its holdings in 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 period. GAMMA Investing LLC raised its holdings in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Pinterest during the second quarter valued at about $35,000. 88.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research 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 for the company in a research report on Friday, November 8th. Raymond James cut their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Barclays cut their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Seven 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Pinterest stock opened at $29.36 on Friday. The company has a 50 day moving average price of $31.76 and a 200-day moving average price of $36.27. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a market capitalization of $20.15 billion, a PE ratio of 97.87, a P/E/G ratio of 2.29 and a beta of 1.02.

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.