GDS Wealth Management Purchases 39,320 Shares of Pinterest, Inc. (NYSE:PINS)

GDS Wealth Management lifted its position in Pinterest, Inc. (NYSE:PINS) by 50.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 117,071 shares of the company’s stock after acquiring an additional 39,320 shares during the quarter. GDS Wealth Management’s holdings in Pinterest were worth $3,395,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares during the period. V Square Quantitative Management LLC bought a new position in Pinterest during the third quarter valued at about $37,000. Crewe Advisors LLC grew its position in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after buying an additional 550 shares during the period. True Wealth Design LLC grew its position in Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the period. Finally, Rakuten Securities Inc. grew its position in Pinterest by 44.2% during the third quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock valued at $74,000 after buying an additional 703 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $33.09 on Tuesday. The firm has a market cap of $22.36 billion, a price-to-earnings ratio of 110.31, a PEG ratio of 1.68 and a beta of 1.04. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a 50 day moving average price of $31.01 and a 200-day moving average price of $31.65.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PINS. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price target on shares of Pinterest in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, January 10th. TD Cowen started coverage on shares of Pinterest in a research note on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Oppenheimer reduced their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.70.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now directly owns 32,536 shares of the company’s stock, valued at $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction 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 completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is currently owned by insiders.

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.