Atria Investments Inc Increases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Atria Investments Inc grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,686 shares of the company’s stock after purchasing an additional 1,034 shares during the period. Atria Investments Inc’s holdings in Pinterest were worth $864,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PINS. Brown Shipley& Co Ltd acquired a new stake in shares of Pinterest in the second quarter valued at $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest in the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC grew its position in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of Pinterest during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of NYSE PINS opened at $28.99 on Tuesday. The stock has a fifty day moving average price of $31.71 and a 200 day moving average price of $36.18. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The company has a market cap of $19.89 billion, a PE ratio of 94.57, a P/E/G ratio of 2.02 and a beta of 1.02.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Rosenblatt Securities lowered their target price on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Wedbush upgraded Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Morgan Stanley upped their price objective on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Raymond James dropped their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the 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 approximately $9,729,324.72. This represents a 9.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’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 sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

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.