Crewe Advisors LLC Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

Crewe Advisors LLC boosted its position in shares of Pinterest, Inc. (NYSE:PINS) by 91.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,154 shares of the company’s stock after acquiring an additional 550 shares during the period. Crewe Advisors LLC’s holdings in Pinterest were worth $37,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd acquired a new position in Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest during the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC raised its holdings in shares of Pinterest by 157.7% during the second 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 position in shares of 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 in the last quarter. Finally, Rothschild Investment LLC acquired a new position in Pinterest in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The shares were 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 in the company, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of the sale, the director now owns 33,686 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 32,580 shares of company stock worth $1,063,499. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PINS shares. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. Roth Mkm decreased their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Barclays reduced their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $41.00 target price (down from $45.00) on shares of Pinterest in a report on Friday, November 8th. Seven investment 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Stock Up 2.4 %

Pinterest stock opened at $30.02 on Monday. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The firm has a market cap of $20.29 billion, a PE ratio of 100.07, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. The company’s 50 day moving average is $31.73 and its two-hundred day moving average is $35.81.

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.