Geode Capital Management LLC Has $305.71 Million Position in Pinterest, Inc. (NYSE:PINS)

Geode Capital Management LLC lifted its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,466,585 shares of the company's stock after buying an additional 76,920 shares during the period. Geode Capital Management LLC owned about 1.38% of Pinterest worth $305,710,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its holdings in Pinterest by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 285,720 shares of the company's stock worth $9,249,000 after buying an additional 2,275 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Pinterest by 5.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 208,164 shares of the company's stock worth $6,738,000 after acquiring an additional 9,860 shares during the period. XTX Topco Ltd acquired a new stake in shares of Pinterest during the third quarter worth $617,000. EP Wealth Advisors LLC bought a new stake in Pinterest in the 3rd quarter valued at $228,000. Finally, Weiss Asset Management LP acquired a new position in Pinterest in the 3rd quarter worth $1,296,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Stock Down 0.6 %

Shares of Pinterest stock traded down $0.19 on Friday, hitting $30.65. The stock had a trading volume of 9,688,111 shares, compared to its average volume of 9,791,048. The stock has a market cap of $20.71 billion, a price-to-earnings ratio of 102.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The business's 50 day moving average is $31.65 and its two-hundred day moving average is $34.62.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Andrea Acosta sold 3,845 shares of the business's stock in a transaction that occurred 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 approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,287 shares of company stock valued at $1,547,820 in the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wedbush upgraded Pinterest from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $41.00 target price on shares of Pinterest in a research note on Monday, October 7th. Rosenblatt Securities decreased their price target on shares of Pinterest from $48.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Raymond James lowered their price objective on shares of Pinterest from $40.00 to $34.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Finally, Roth Mkm reduced their target price on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating for the company in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.