Paloma Partners Management Co Increases Position in Pinterest, Inc. (NYSE:PINS)

Paloma Partners Management Co boosted its position in Pinterest, Inc. (NYSE:PINS) by 1,328.6% in the 3rd quarter, Holdings Channel reports. The fund owned 60,000 shares of the company’s stock after purchasing an additional 55,800 shares during the period. Paloma Partners Management Co’s holdings in Pinterest were worth $1,942,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Comerica Bank boosted its position in shares of Pinterest by 5.4% in the first quarter. Comerica Bank now owns 49,865 shares of the company’s stock worth $1,729,000 after acquiring an additional 2,561 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Pinterest by 103.4% during the 1st quarter. Cetera Investment Advisers now owns 63,535 shares of the company’s stock worth $2,203,000 after buying an additional 32,305 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of Pinterest in the 1st quarter worth $1,175,000. GAMMA Investing LLC boosted its holdings in Pinterest by 113.4% in 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 last quarter. Finally, DNB Asset Management AS grew its position in Pinterest by 9.8% during the second quarter. DNB Asset Management AS now owns 99,598 shares of the company’s stock valued at $4,389,000 after acquiring an additional 8,926 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Up 0.3 %

Shares of NYSE:PINS opened at $30.42 on Tuesday. The firm has a 50-day simple moving average of $31.80 and a 200 day simple moving average of $35.26. 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 cap of $20.56 billion, a PE ratio of 101.40, a P/E/G ratio of 2.17 and a beta of 1.02.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated 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 $4,893,491.84. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated 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 owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,287 shares of company stock worth $1,547,820. 7.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Robert W. Baird dropped their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Piper Sandler reiterated an “overweight” rating and issued a $41.00 price target (down from $45.00) on shares of Pinterest in a report on Friday, November 8th. Finally, KeyCorp reduced their price objective on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average price target of $41.65.

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.