Mount Yale Investment Advisors LLC lifted its stake in Pinterest, Inc. (NYSE:PINS – Free Report) by 37.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,180 shares of the company’s stock after purchasing an additional 6,813 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Pinterest were worth $815,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after buying an additional 51,455 shares during the period. Russell Investments Group Ltd. increased its stake in Pinterest by 38.0% in the first quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock valued at $21,358,000 after purchasing an additional 169,052 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Pinterest in the second quarter worth $5,045,000. Quantbot Technologies LP boosted its position in shares of Pinterest by 217.8% during the second quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock worth $5,233,000 after purchasing an additional 81,380 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Pinterest by 4.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,071 shares of the company’s stock valued at $23,855,000 after buying an additional 28,261 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.
Pinterest Price Performance
Pinterest stock opened at $32.35 on Friday. The company’s 50-day moving average is $31.72 and its 200-day moving average is $36.40. The firm has a market capitalization of $22.10 billion, a PE ratio of 154.05, a P/E/G ratio of 2.46 and a beta of 1.01. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19.
Insider Activity at Pinterest
In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Robert W. Baird lowered their price target on Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Wedbush cut their price objective on Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Evercore ISI dropped their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.32.
Get Our Latest Stock Report on PINS
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.
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