Exchange Traded Concepts LLC raised its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 376.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,545 shares of the company's stock after purchasing an additional 46,250 shares during the quarter. Exchange Traded Concepts LLC's holdings in Pinterest were worth $1,698,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of Pinterest during the third quarter worth about $153,829,000. Southpoint Capital Advisors LP acquired a new stake in Pinterest during the 3rd quarter worth approximately $123,006,000. Ontario Teachers Pension Plan Board boosted its position in Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock valued at $285,248,000 after buying an additional 2,996,750 shares during the period. Nordea Investment Management AB grew its stake in shares of Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock worth $111,515,000 after acquiring an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Pinterest by 582.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company's stock worth $65,741,000 after acquiring an additional 1,934,653 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.
Analyst Upgrades and Downgrades
PINS has been the subject of several analyst reports. Roth Mkm lowered their target price on Pinterest from $39.00 to $33.00 and set a "neutral" rating for the company in a research note on Friday, November 8th. Benchmark reissued a "hold" rating on shares of Pinterest in a research report on Friday, November 8th. TD Cowen assumed coverage on shares of Pinterest in a research note on Tuesday, November 26th. They issued a "buy" rating and a $38.00 price target for the company. Morgan Stanley increased their price objective on shares of Pinterest from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Finally, Piper Sandler downgraded shares of Pinterest from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $41.00 to $36.00 in a research note on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of "Moderate Buy" and a consensus price target of $40.70.
Read Our Latest Analysis on Pinterest
Insider Transactions at Pinterest
In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock valued at $589,131 over the last three months. 7.11% of the stock is currently owned by insiders.
Pinterest Price Performance
Pinterest stock traded down $0.51 during trading hours on Tuesday, hitting $32.97. The stock had a trading volume of 12,634,228 shares, compared to its average volume of 10,490,585. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of 109.89, a PEG ratio of 1.61 and a beta of 1.04. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The stock's fifty day moving average is $30.80 and its two-hundred day moving average is $31.82.
About Pinterest
(
Free Report)
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.
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