Pinterest, Inc. (NYSE:PINS) Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,540,152 shares of the company's stock after purchasing an additional 119,367 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.22% of Pinterest worth $49,855,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in Pinterest by 9.5% in the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock worth $445,818,000 after acquiring an additional 880,398 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock valued at $285,248,000 after purchasing an additional 2,996,750 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Pinterest by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock valued at $262,695,000 after purchasing an additional 380,431 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Pinterest by 8.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock valued at $192,423,000 after buying an additional 460,708 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company's stock worth $248,793,000 after buying an additional 1,356,459 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,287 shares of company stock valued at $1,547,820 over the last ninety days. Insiders own 7.11% of the company's stock.

Pinterest Price Performance

NYSE:PINS remained flat at $30.32 during trading hours on Friday. The company had a trading volume of 3,510,815 shares, compared to its average volume of 13,099,546. The company has a market capitalization of $20.49 billion, a PE ratio of 101.07, a P/E/G ratio of 2.17 and a beta of 1.02. The company has a 50-day simple moving average of $31.80 and a two-hundred day simple moving average of $35.35. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PINS. Piper Sandler reissued an "overweight" rating and issued a $41.00 price target (down previously from $45.00) on shares of Pinterest in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Pinterest in a research note on Monday, September 23rd. They set a "buy" rating and a $43.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, November 8th. Oppenheimer dropped their price target on Pinterest from $45.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Finally, Robert W. Baird reduced their price objective on Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.65.

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.