Sumitomo Mitsui Trust Group Inc. lifted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 8.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,944,489 shares of the company's stock after purchasing an additional 460,708 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.87% of Pinterest worth $192,423,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest during the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new position in Pinterest in the second quarter worth approximately $26,000. Hexagon Capital Partners LLC lifted its stake in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC raised its position in 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 buying an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $35,000. 88.81% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PINS has been the topic of a number of research analyst reports. Rosenblatt Securities reduced their target price on Pinterest from $48.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Robert W. Baird reduced their price objective on Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Oppenheimer cut their price target on Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Evercore ISI dropped their target price 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, Raymond James dropped their target price on shares of Pinterest from $40.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.00.
View Our Latest Stock Report on PINS
Insider Transactions at Pinterest
In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction that occurred on Friday, September 27th. The stock was 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 in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company's stock, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. 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 traded down $0.69 during trading on Wednesday, hitting $29.98. The stock had a trading volume of 12,616,513 shares, compared to its average volume of 9,588,925. The stock has a market cap of $20.57 billion, a PE ratio of 99.93, a PEG ratio of 2.34 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The firm's fifty day simple moving average is $31.76 and its 200-day simple moving average is $36.27.
About Pinterest
(
Free Report)
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.
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