147,902 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Janney Capital Management LLC

by · The Markets Daily

Janney Capital Management LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS – Free Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 147,902 shares of the company’s stock, valued at approximately $4,289,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Shipley& Co Ltd bought a new position in shares of Pinterest in the second quarter worth $25,000. GAMMA Investing LLC grew its stake in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Pinterest in the 3rd quarter valued at about $37,000. Crewe Advisors LLC raised its position in shares of Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after buying an additional 550 shares in the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after acquiring an additional 1,487 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock worth $589,131 in the last quarter. 7.11% of the stock is owned by corporate insiders.

Pinterest Stock Performance

Shares of PINS stock opened at $32.06 on Wednesday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock has a 50 day simple moving average of $30.41 and a two-hundred day simple moving average of $32.24. The company has a market cap of $21.67 billion, a P/E ratio of 107.66, a PEG ratio of 1.55 and a beta of 1.04.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Morgan Stanley lifted their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Cantor Fitzgerald restated an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a research report on Monday, October 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 target price (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Finally, Raymond James dropped their target price on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $40.70.

View Our Latest Stock Analysis on Pinterest

About Pinterest

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS – Free Report).