Ontario Teachers Pension Plan Board Buys 2,996,750 Shares of Pinterest, Inc. (NYSE:PINS)

Ontario Teachers Pension Plan Board raised its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 51.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,812,117 shares of the company's stock after purchasing an additional 2,996,750 shares during the quarter. Pinterest comprises approximately 2.4% of Ontario Teachers Pension Plan Board's holdings, making the stock its 17th biggest holding. Ontario Teachers Pension Plan Board owned approximately 1.28% of Pinterest worth $285,248,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Pinterest by 195.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company's stock valued at $75,000 after acquiring an additional 1,422 shares during the last quarter. US Bancorp DE lifted its stake in shares of Pinterest by 2.0% in the 1st quarter. US Bancorp DE now owns 26,602 shares of the company's stock worth $922,000 after acquiring an additional 521 shares during the period. Edgestream Partners L.P. bought a new position in shares of Pinterest in the first quarter valued at approximately $726,000. O Shaughnessy Asset Management LLC raised its holdings in Pinterest by 16.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 18,951 shares of the company's stock worth $657,000 after purchasing an additional 2,731 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Pinterest by 107.5% in the first quarter. UniSuper Management Pty Ltd now owns 8,300 shares of the company's stock valued at $288,000 after buying an additional 4,300 shares during the period. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 owns 33,686 shares of the company's stock, valued at $1,129,154.72. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company's stock.

Pinterest Stock Down 1.5 %

NYSE:PINS traded down $0.46 on Wednesday, hitting $29.24. The stock had a trading volume of 6,704,488 shares, compared to its average volume of 9,615,003. The business's fifty day moving average is $31.71 and its 200 day moving average is $36.02. The company has a market cap of $19.76 billion, a PE ratio of 99.00, a P/E/G ratio of 2.02 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PINS shares. 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. Raymond James lowered their price target 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. KeyCorp reduced their target price on shares of Pinterest from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Evercore ISI decreased their price objective on shares of Pinterest from $50.00 to $48.00 and set an "outperform" rating for the company in a report on Wednesday, July 31st. Finally, Robert W. Baird dropped their price objective on Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

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.