331,578 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Incline Global Management LLC

Incline Global Management LLC acquired a new position in Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 331,578 shares of the company’s stock, valued at approximately $10,733,000. Pinterest accounts for about 4.8% of Incline Global Management LLC’s holdings, making the stock its largest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sequoia Financial Advisors LLC boosted its holdings in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after buying an additional 313 shares during the period. Raymond James Trust N.A. lifted its stake in Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after purchasing an additional 319 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Pinterest by 3.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares in the last quarter. Leibman Financial Services Inc. lifted its stake in Pinterest by 1.2% in 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 in the last quarter. Finally, Toronto Dominion Bank lifted its stake in Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after purchasing an additional 372 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Trading Up 0.4 %

Shares of NYSE:PINS traded up $0.11 during midday trading on Tuesday, reaching $30.54. 678,126 shares of the company were exchanged, compared to its average volume of 9,577,007. The business’s fifty day moving average is $31.80 and its two-hundred day moving average is $35.26. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The stock has a market cap of $20.64 billion, a PE ratio of 101.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02.

Analysts Set New Price Targets

PINS has been the topic of several research reports. KeyCorp lowered their price objective on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price on the stock. Wedbush upgraded shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $41.00 target price (down previously from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.65.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the transaction, the director now owns 32,536 shares in the company, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,287 shares of company stock worth $1,547,820. 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.