Pinterest, Inc. (NYSE:PINS) Shares Bought by Cerity Partners LLC

Cerity Partners LLC boosted its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 63.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,357 shares of the company's stock after purchasing an additional 20,310 shares during the period. Cerity Partners LLC's holdings in Pinterest were worth $1,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in shares of Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock valued at $445,818,000 after buying an additional 880,398 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the period. Bank of New York Mellon Corp increased its position in shares of Pinterest by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock worth $262,695,000 after purchasing an additional 380,431 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Pinterest by 8.4% in the 3rd 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 lifted its position in Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company's stock valued at $248,793,000 after buying an additional 1,356,459 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares of the company's stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the sale, the chief accounting officer now owns 158,468 shares of the company's stock, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their position. 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. Cantor Fitzgerald reissued an "overweight" rating and issued a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. TD Cowen initiated coverage on Pinterest in a research report on Tuesday, November 26th. They set a "buy" rating and a $38.00 price target for the company. Benchmark reaffirmed a "hold" rating on shares of Pinterest in a research note on Friday, November 8th. Finally, Wedbush upgraded Pinterest from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $41.65.

Pinterest Price Performance

Shares of NYSE:PINS traded up $0.89 during trading on Tuesday, hitting $31.32. 12,119,256 shares of the company were exchanged, compared to its average volume of 9,627,478. The firm's 50 day moving average price is $31.80 and its 200-day moving average price is $35.18. The stock has a market capitalization of $21.16 billion, a P/E ratio of 104.39, a PEG ratio of 2.18 and a beta of 1.02. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Pinterest Company 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.