Oppenheimer & Co. Inc. Makes New Investment in Pinterest (NASDAQ:PINS)
Oppenheimer & Co. Inc. bought a new position in Pinterest (NASDAQ:PINS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,599 shares of the company’s stock, valued at approximately $261,000.
Several other hedge funds also recently bought and sold shares of the company. Zweig DiMenna Associates LLC acquired a new stake in shares of Pinterest during the 2nd quarter worth approximately $4,536,000. Legacy Advisors LLC bought a new stake in shares of Pinterest during the 2nd quarter worth $271,000. Quad Cities Investment Group LLC bought a new stake in Pinterest in the 2nd quarter valued at about $27,000. Moors & Cabot Inc. bought a new stake in Pinterest in the 2nd quarter valued at about $222,000. Finally, Meridian Wealth Management LLC bought a new stake in Pinterest in the 2nd quarter valued at about $313,000.
Shares of PINS traded down $0.30 during mid-day trading on Friday, reaching $29.47. The company had a trading volume of 53,728 shares, compared to its average volume of 6,324,009. Pinterest has a 52-week low of $23.05 and a 52-week high of $36.83. The company has a 50 day moving average price of $32.11.
PINS has been the subject of a number of recent analyst reports. DA Davidson lifted their target price on Pinterest to $23.00 and gave the company an “average” rating in a report on Monday, May 20th. Rosenblatt Securities reaffirmed a “hold” rating and issued a $31.00 target price on shares of Pinterest in a research note on Wednesday, August 7th. Pivotal Research reiterated a “hold” rating and issued a $32.00 price objective (up previously from $29.00) on shares of Pinterest in a research report on Friday, August 2nd. UBS Group boosted their price objective on Pinterest from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Citigroup upped their target price on Pinterest from $34.00 to $38.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Pinterest presently has an average rating of “Hold” and a consensus target price of $32.53.
Pinterest Company Profile
There is no company description available for Pinterest Inc
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