Pinterest, Inc. (NYSE:PINS) Stake Raised by State Street Corp

State Street Corp boosted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,773,652 shares of the company's stock after acquiring an additional 156,748 shares during the quarter. State Street Corp owned about 1.86% of Pinterest worth $413,483,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Cetera Investment Advisers lifted its stake in shares of Pinterest by 103.4% in the first quarter. Cetera Investment Advisers now owns 63,535 shares of the company's stock worth $2,203,000 after acquiring an additional 32,305 shares in the last quarter. GAMMA Investing LLC raised its position 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 in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Pinterest during the 2nd quarter valued at approximately $265,000. Diversified Trust Co grew its position in shares of Pinterest by 23.1% during the second quarter. Diversified Trust Co now owns 26,112 shares of the company's stock worth $1,151,000 after buying an additional 4,892 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Pinterest by 6.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,340 shares of the company's stock worth $1,293,000 after buying an additional 1,704 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Trading Down 3.7 %

NYSE:PINS traded down $1.23 during mid-day trading on Tuesday, reaching $31.83. 13,678,498 shares of the stock were exchanged, compared to its average volume of 9,654,407. The business has a fifty day moving average price of $31.79 and a 200 day moving average price of $34.91. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a market capitalization of $21.51 billion, a PE ratio of 106.70, a PEG ratio of 2.28 and a beta of 1.02.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company's stock, 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 legal filing with the SEC, which is available at 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 sale, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,287 shares of company stock valued at $1,547,820 in the last quarter. Insiders own 7.11% of the company's stock.

Analyst Ratings Changes

PINS has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest in a research report on Monday, September 23rd. They set a "buy" rating and a $43.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. KeyCorp dropped their price target on Pinterest from $45.00 to $39.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, November 8th. Finally, Rosenblatt Securities reduced their price target on shares of Pinterest from $48.00 to $46.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $41.46.

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.