Quest Partners LLC Purchases 8,986 Shares of Pinterest, Inc. (NYSE:PINS)

Quest Partners LLC boosted its position in Pinterest, Inc. (NYSE:PINS) by 1,109.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,796 shares of the company’s stock after acquiring an additional 8,986 shares during the period. Quest Partners LLC’s holdings in Pinterest were worth $317,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in Pinterest by 1.0% in the third quarter. Swiss National Bank now owns 1,779,000 shares of the company’s stock valued at $57,586,000 after acquiring an additional 16,800 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Pinterest by 31.6% in the third quarter. Thrivent Financial for Lutherans now owns 546,305 shares of the company’s stock valued at $17,684,000 after buying an additional 131,176 shares during the period. Empowered Funds LLC lifted its stake in Pinterest by 7.4% in the third quarter. Empowered Funds LLC now owns 9,165 shares of the company’s stock valued at $297,000 after buying an additional 635 shares during the period. CIBC Asset Management Inc lifted its stake in Pinterest by 5.5% in the third quarter. CIBC Asset Management Inc now owns 21,257 shares of the company’s stock valued at $688,000 after buying an additional 1,105 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in Pinterest by 26.1% in the third quarter. Impax Asset Management Group plc now owns 50,437 shares of the company’s stock valued at $1,633,000 after buying an additional 10,437 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Up 1.6 %

PINS stock opened at $30.51 on Tuesday. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The business has a 50 day moving average price of $31.73 and a two-hundred day moving average price of $35.76. The company has a market cap of $20.62 billion, a price-to-earnings ratio of 101.70, a P/E/G ratio of 2.15 and a beta of 1.02.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,580 shares of company stock worth $1,063,499. 7.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research note on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price on the stock. Robert W. Baird cut their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a research note on Monday, October 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.