Victory Capital Management Inc. Purchases 129,676 Shares of Pinterest, Inc. (NYSE:PINS)

Victory Capital Management Inc. grew its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 45.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,285 shares of the company's stock after buying an additional 129,676 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Pinterest worth $13,410,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest in the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC raised its holdings in shares of Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock valued at $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC raised its holdings in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company's stock valued at $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new position in Pinterest in the 2nd quarter valued at about $35,000. 88.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Robert W. Baird lowered their price target on shares of Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Wells Fargo & Company lowered their price target on shares of Pinterest from $49.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Barclays lowered their price target on shares of Pinterest from $38.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada reissued an "outperform" rating and issued a $48.00 price target on shares of Pinterest in a report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a report on Monday, September 23rd. They issued a "buy" rating and a $43.00 price target on the stock. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $42.00.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction 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 transaction, the director now directly 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. Company insiders own 7.11% of the company's stock.

Pinterest Price Performance

Shares of Pinterest stock opened at $29.24 on Thursday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market capitalization of $19.76 billion, a P/E ratio of 97.45, a P/E/G ratio of 2.02 and a beta of 1.02. The company's 50 day moving average price is $31.71 and its two-hundred day moving average price is $36.02.

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.