UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Pinterest, Inc. (NYSE:PINS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,623,294 shares of the company's stock after selling 120,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.53% of Pinterest worth $117,286,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in 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 acquiring an additional 880,398 shares during the period. Ontario Teachers Pension Plan Board raised its position in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock worth $285,248,000 after buying an additional 2,996,750 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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. boosted its holdings in shares of Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock valued at $192,423,000 after acquiring an additional 460,708 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Pinterest by 31.6% during the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company's stock worth $248,793,000 after purchasing an additional 1,356,459 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PINS shares. Rosenblatt Securities decreased 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $48.00 target price on shares of Pinterest in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research report on Monday, September 23rd. They issued a "buy" rating and a $43.00 price objective for the company. Robert W. Baird lowered their price target on Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Finally, Piper Sandler reissued an "overweight" rating and issued a $41.00 price target (down previously from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.65.

Pinterest Stock Performance

Pinterest stock traded up $0.10 during mid-day trading on Monday, reaching $30.42. The stock had a trading volume of 9,059,196 shares, compared to its average volume of 9,616,740. 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 $20.56 billion, a PE ratio of 101.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. The stock's 50-day simple moving average is $31.80 and its 200-day simple moving average is $35.26.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 in the company, 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 legal filing with the SEC, which is available through this link. Also, CAO Andrea Acosta sold 3,845 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares of the company's stock, valued at $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,287 shares of company stock worth $1,547,820 over the last 90 days. Corporate insiders own 7.11% of the company's stock.

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.