Revolve Wealth Partners LLC Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Revolve Wealth Partners LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,681 shares of the company’s stock, valued at approximately $252,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in shares of Pinterest during the 3rd quarter worth approximately $153,829,000. Southpoint Capital Advisors LP acquired a new stake in shares of Pinterest in the 3rd quarter valued at $123,006,000. Ontario Teachers Pension Plan Board increased its stake in shares of Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Pinterest by 122.1% during the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after buying an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Pinterest by 582.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock worth $65,741,000 after buying an additional 1,934,653 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on PINS. Morgan Stanley boosted their target price on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Raymond James cut their target price on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. KeyCorp dropped their price target on Pinterest from $39.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research report on Tuesday, December 10th. Finally, UBS Group dropped their price objective on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $40.70.

Pinterest Trading Down 1.5 %

Shares of PINS stock opened at $32.97 on Wednesday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a 50 day simple moving average of $30.80 and a two-hundred day simple moving average of $31.82. The stock has a market cap of $22.28 billion, a P/E ratio of 109.89, a P/E/G ratio of 1.61 and a beta of 1.04.

Insider Activity

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $589,131 over the last quarter. Insiders own 7.11% of the company’s stock.

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.