Pinterest, Inc. (NYSE:PINS) Stake Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 31.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 546,305 shares of the company's stock after purchasing an additional 131,176 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Pinterest worth $17,684,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock worth $445,818,000 after buying an additional 880,398 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Pinterest by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock worth $262,695,000 after acquiring an additional 380,431 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock worth $192,423,000 after acquiring an additional 460,708 shares during the period. Acadian Asset Management LLC increased its stake in Pinterest by 31.6% in the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company's stock valued at $248,793,000 after purchasing an additional 1,356,459 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in Pinterest by 44.6% during the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company's stock worth $239,991,000 after purchasing an additional 1,679,348 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of research analyst reports. UBS Group dropped their price target on Pinterest from $52.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Rosenblatt Securities dropped their target price on shares of Pinterest from $48.00 to $46.00 and set a "buy" rating for the company in a report on Friday, November 8th. Roth Mkm reduced their price target on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. Robert W. Baird dropped their price objective on shares of Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Finally, Evercore ISI cut their price objective on Pinterest from $50.00 to $48.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and a consensus target price of $42.00.

Pinterest Stock Up 0.3 %

Shares of PINS traded up $0.08 during midday trading on Thursday, hitting $29.31. The company had a trading volume of 11,351,678 shares, compared to its average volume of 9,626,346. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of 97.45, a PEG ratio of 2.13 and a beta of 1.02. The company's 50 day moving average price is $31.71 and its 200 day moving average price is $35.97. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company's 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 completion of the sale, the chief financial officer now directly owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,580 shares of company stock valued at $1,063,499. Company insiders own 7.11% of the company's stock.

About Pinterest

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.