Everence Capital Management Inc. Purchases New Shares in Pinterest, Inc. (NYSE:PINS)

Everence Capital Management Inc. bought a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,930 shares of the company's stock, valued at approximately $520,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company's stock valued at $413,483,000 after buying an additional 156,748 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company's stock worth $305,710,000 after purchasing an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Pinterest by 51.5% in the third 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 last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of 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 purchasing an additional 460,708 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Pinterest by 31.6% during 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 hedge funds and other institutional investors.

Pinterest Stock Up 4.9 %

NYSE PINS traded up $1.52 during trading hours on Monday, reaching $32.46. The company's stock had a trading volume of 10,391,748 shares, compared to its average volume of 9,530,375. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 108.20, a PEG ratio of 2.17 and a beta of 1.04. The firm's 50-day moving average price is $30.71 and its 200-day moving average price is $33.16.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 246,921 shares of the company's stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares of the company's stock, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $592,685 over the last quarter. Insiders own 7.11% of the company's stock.

Wall Street Analysts Forecast Growth

PINS has been the topic of several research analyst reports. Benchmark restated a "hold" rating on shares of Pinterest in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest in a report on Monday, September 23rd. They issued a "buy" rating and a $43.00 target price on the stock. Wedbush upgraded shares of Pinterest from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Robert W. Baird lowered their price target on Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $48.00 price objective on shares of Pinterest in a report on Tuesday, December 10th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Pinterest has an average rating of "Moderate Buy" and a consensus price target of $41.46.

Pinterest 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.