Redwood Investment Management LLC Has $502,000 Stock Position in Pinterest, Inc. (NYSE:PINS)

Redwood Investment Management LLC boosted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 27.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,456 shares of the company’s stock after purchasing an additional 3,375 shares during the period. Redwood Investment Management LLC’s holdings in Pinterest were worth $502,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PINS. Sequoia Financial Advisors LLC boosted its holdings in shares of Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after buying an additional 313 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Pinterest by 1.1% in the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after acquiring an additional 319 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Pinterest by 3.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after acquiring an additional 339 shares during the period. Leibman Financial Services Inc. increased its stake in shares of Pinterest by 1.2% during the 3rd quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock worth $1,028,000 after purchasing an additional 368 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Pinterest by 0.7% in the 2nd 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. 88.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 33,686 shares in the company, 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 48,287 shares of company stock worth $1,547,820 in the last ninety days. 7.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of recent analyst reports. TD Cowen started coverage on Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target on the stock. Robert W. Baird decreased their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Raymond James cut their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price for the company. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.65.

Pinterest Price Performance

NYSE PINS opened at $32.28 on Friday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The business has a fifty day moving average price of $31.77 and a two-hundred day moving average price of $35.06. The stock has a market capitalization of $21.82 billion, a PE ratio of 107.60, a PEG ratio of 2.21 and a beta of 1.02.

About Pinterest

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.