Polar Asset Management Partners Inc. Buys 228,600 Shares of Pinterest, Inc. (NYSE:PINS)

Polar Asset Management Partners Inc. raised its stake in shares of Pinterest, Inc. (NYSE:PINS) by 142.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 388,700 shares of the company’s stock after purchasing an additional 228,600 shares during the period. Polar Asset Management Partners Inc.’s holdings in Pinterest were worth $12,582,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brown Shipley& Co Ltd bought a new position in shares of Pinterest in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest in the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Pinterest by 157.7% in the 2nd 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 stake in Pinterest by 113.4% in 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 last quarter. Finally, Rothschild Investment LLC bought a new stake in Pinterest in the second quarter worth about $35,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 2.9 %

NYSE:PINS opened at $31.32 on Wednesday. The company’s 50-day moving average price is $31.80 and its 200-day moving average price is $35.18. The company has a market cap of $21.16 billion, a P/E ratio of 104.39, a P/E/G ratio of 2.18 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,287 shares of company stock valued at $1,547,820. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Roth Mkm cut their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. TD Cowen initiated coverage on shares of Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Finally, Raymond James cut their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.65.

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.