Sanctuary Advisors LLC Buys 36,925 Shares of Pinterest, Inc. (NYSE:PINS)

Sanctuary Advisors LLC boosted its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 42.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,353 shares of the company's stock after acquiring an additional 36,925 shares during the quarter. Sanctuary Advisors LLC's holdings in Pinterest were worth $3,733,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. State Street Corp increased its stake in shares of Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company's stock worth $413,483,000 after buying an additional 156,748 shares during the period. Baillie Gifford & Co. lifted its position in shares of Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock worth $445,818,000 after purchasing an additional 880,398 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company's stock worth $305,710,000 after purchasing an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in Pinterest by 51.5% in the third 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 last quarter. Finally, Bank of New York Mellon Corp raised its stake in Pinterest by 6.8% in 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 buying an additional 380,431 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PINS. TD Cowen assumed coverage on shares of Pinterest in a research note on Tuesday, November 26th. They set a "buy" rating and a $38.00 price target on the stock. KeyCorp reduced their target price on Pinterest from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Oppenheimer dropped their price target on Pinterest from $45.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $48.00 price objective on shares of Pinterest in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities reduced their price target on shares of Pinterest from $48.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $41.46.

Pinterest Stock Performance

Shares of NYSE:PINS traded up $0.70 during mid-day trading on Tuesday, hitting $31.00. 12,983,949 shares of the company traded hands, compared to its average volume of 9,688,234. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The firm has a market cap of $20.95 billion, a P/E ratio of 100.47, a PEG ratio of 2.17 and a beta of 1.02. The firm's 50 day simple moving average is $31.60 and its 200 day simple moving average is $34.54.

Insider Buying and Selling at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 246,921 shares of the company's stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, 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 sold a total of 48,287 shares of company stock valued at $1,547,820 in the last ninety days. Insiders own 7.11% of the company's stock.

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.