8,681 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 4th quarter, HoldingsChannel.com reports. The fund bought 8,681 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. lifted its holdings in shares of Pinterest by 94.9% during the fourth quarter. Pacer Advisors Inc. now owns 53,033 shares of the company’s stock worth $1,538,000 after purchasing an additional 25,828 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after acquiring an additional 342 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in Pinterest by 7.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 36,046 shares of the company’s stock valued at $1,045,000 after acquiring an additional 2,472 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Pinterest by 699.4% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 296,033 shares of the company’s stock valued at $8,585,000 after acquiring an additional 259,002 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Pinterest by 376.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 58,545 shares of the company’s stock worth $1,698,000 after acquiring an additional 46,250 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Trading Down 1.5 %

PINS opened at $32.97 on Wednesday. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The firm has a market capitalization of $22.28 billion, a PE ratio of 109.89, a PEG ratio of 1.61 and a beta of 1.04. The firm’s 50-day moving average price is $30.80 and its 200 day moving average price is $31.82.

Insiders Place Their Bets

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s 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 sale, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total transaction of $35,627.00. Following the completion of the sale, the director now owns 31,386 shares in the company, valued at approximately $972,338.28. This trade represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock valued at $589,131 in the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on PINS shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a report on Tuesday, December 10th. Wells Fargo & Company lowered their target price on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Piper Sandler cut Pinterest from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $41.00 to $36.00 in a research report on Tuesday, December 10th. Robert W. Baird lowered their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Rosenblatt Securities dropped their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.70.

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.