Pinterest, Inc. (NYSE:PINS) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 4,316.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 726,279 shares of the company's stock after purchasing an additional 709,834 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of Pinterest worth $23,510,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PINS. Vanguard Group Inc. raised its holdings in Pinterest by 1.8% during the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company's stock valued at $1,988,110,000 after acquiring an additional 994,848 shares during the period. Baillie Gifford & Co. raised its holdings in Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock valued at $445,818,000 after acquiring an additional 880,398 shares during the period. Clearbridge Investments LLC raised its holdings in Pinterest by 2.2% during the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company's stock valued at $283,592,000 after acquiring an additional 176,540 shares during the period. Bank of New York Mellon Corp raised its holdings in 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 acquiring an additional 380,431 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company's stock valued at $198,846,000 after acquiring an additional 1,798,494 shares during the period. 88.81% of the stock is owned by institutional investors.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares of the company's stock, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares of the company's stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Pinterest Trading Up 1.5 %

Pinterest stock traded up $0.48 during trading on Friday, hitting $32.31. The company had a trading volume of 5,349,305 shares, compared to its average volume of 9,325,104. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19. The company's 50 day simple moving average is $31.72 and its 200-day simple moving average is $36.38. The stock has a market cap of $22.07 billion, a price-to-earnings ratio of 153.86, a price-to-earnings-growth ratio of 2.46 and a beta of 1.01.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business had revenue of $853.68 million during the quarter, compared to analysts' expectations of $848.75 million. During the same period in the previous year, the company earned ($0.04) EPS. The company's revenue for the quarter was up 20.6% on a year-over-year basis. As a group, analysts forecast that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Cantor Fitzgerald reissued an "overweight" rating and set a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. Barclays reduced their target price on Pinterest from $38.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 31st. UBS Group reduced their target price on Pinterest from $57.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. KeyCorp lifted their target price on Pinterest from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their target price on Pinterest from $44.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and a consensus price target of $43.32.

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.