True Wealth Design LLC Acquires 1,487 Shares of Pinterest, Inc. (NYSE:PINS)

True Wealth Design LLC increased its holdings in Pinterest, Inc. (NYSE:PINS) by 8,261.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,505 shares of the company’s stock after purchasing an additional 1,487 shares during the period. True Wealth Design LLC’s holdings in Pinterest were worth $49,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PINS. Brown Shipley& Co Ltd bought a new position in shares of Pinterest in the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest in the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC raised its holdings in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares during the period. GAMMA Investing LLC boosted its holdings in Pinterest by 113.4% during 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 acquired a new stake in shares of Pinterest in the second quarter valued at about $35,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a research report on Monday, October 7th. Raymond James reduced their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Rosenblatt Securities cut 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. JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, TD Cowen assumed coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average price target of $41.65.

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,287 shares of company stock valued at $1,547,820 in the last three months. Corporate insiders own 7.11% of the company’s stock.

Pinterest Price Performance

Shares of PINS opened at $30.32 on Monday. The company has a market capitalization of $20.49 billion, a P/E ratio of 101.07, a PEG ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The business’s 50 day simple moving average is $31.80 and its 200-day simple moving average is $35.35.

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.