Axxcess Wealth Management LLC Acquires 605 Shares of Pinterest, Inc. (NYSE:PINS)

Axxcess Wealth Management LLC grew its holdings in Pinterest, Inc. (NYSE:PINS) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,965 shares of the company’s stock after acquiring an additional 605 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Pinterest were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest in the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest in the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC boosted its position in shares of Pinterest by 157.7% in 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 period. GAMMA Investing LLC boosted 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 during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Pinterest in the second quarter valued at approximately $35,000. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Down 2.1 %

Shares of PINS stock opened at $29.36 on Friday. The stock has a 50-day moving average price of $31.76 and a 200 day moving average price of $36.27. The firm has a market cap of $20.15 billion, a price-to-earnings ratio of 98.77, a PEG ratio of 2.34 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The stock was 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 of the company’s stock, valued at approximately $1,129,154.72. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PINS. Evercore ISI reduced their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 target price (down from $45.00) on shares of Pinterest in a research report on Friday, November 8th. KeyCorp reduced their target price on Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Raymond James reduced their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Company 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.