19,522 Shares in Pinterest, Inc. $PINS Bought by AGF Management Ltd.

AGF Management Ltd. purchased a new position in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,522 shares of the company’s stock, valued at approximately $700,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its position in shares of Pinterest by 282.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after purchasing an additional 506 shares during the last quarter. West Branch Capital LLC bought a new position in shares of Pinterest in the second quarter worth $36,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest in the second quarter worth $40,000. LRI Investments LLC lifted its holdings in shares of Pinterest by 97.7% in the first quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock worth $43,000 after buying an additional 679 shares in the last quarter. Finally, Whittier Trust Co. grew its position in shares of Pinterest by 798.4% during the 1st quarter. Whittier Trust Co. now owns 1,707 shares of the company’s stock valued at $53,000 after purchasing an additional 1,517 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,759 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.96, for a total transaction of $131,414.64. Following the sale, the chief accounting officer owned 157,402 shares in the company, valued at approximately $5,502,773.92. This represents a 2.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 640,236 shares of company stock valued at $22,878,326. 7.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Oppenheimer reissued an “outperform” rating on shares of Pinterest in a research note on Friday, August 8th. Sanford C. Bernstein reduced their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Susquehanna reiterated a “positive” rating and issued a $42.00 price target on shares of Pinterest in a research note on Friday, August 8th. Weiss Ratings started coverage on Pinterest in a research note on Saturday, November 1st. They issued a “hold (c+)” rating on the stock. Finally, The Goldman Sachs Group cut their target price on Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.55.

Pinterest Trading Up 1.4%

Shares of NYSE PINS opened at $27.38 on Wednesday. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 1.59 and a beta of 0.96. The firm’s 50-day moving average price is $33.20 and its 200-day moving average price is $33.93. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The firm had revenue of $665.93 million for the quarter. On average, equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.