Ninety One SA PTY Ltd Purchases 9,033 Shares of Pinterest, Inc. (NYSE:PINS)

Ninety One SA PTY Ltd increased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 12.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 79,006 shares of the company’s stock after purchasing an additional 9,033 shares during the period. Ninety One SA PTY Ltd’s holdings in Pinterest were worth $2,291,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PINS. Ninety One UK Ltd boosted its stake in shares of Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after acquiring an additional 278,362 shares during the period. Tempus Wealth Planning LLC acquired a new stake in Pinterest during the 4th quarter valued at $249,000. Optas LLC boosted its position in Pinterest by 5.7% during the fourth quarter. Optas LLC now owns 21,162 shares of the company’s stock worth $614,000 after purchasing an additional 1,145 shares during the period. GDS Wealth Management increased its holdings in shares of Pinterest by 50.6% in the fourth quarter. GDS Wealth Management now owns 117,071 shares of the company’s stock valued at $3,395,000 after purchasing an additional 39,320 shares during the last quarter. Finally, Golden State Equity Partners raised its position in shares of Pinterest by 23,687.8% in the fourth quarter. Golden State Equity Partners now owns 17,603 shares of the company’s stock valued at $510,000 after purchasing an additional 17,529 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 1.0 %

PINS opened at $33.40 on Wednesday. The company has a market cap of $22.57 billion, a P/E ratio of 111.35, a PEG ratio of 1.68 and a beta of 1.06. The company’s 50 day moving average is $31.11 and its 200-day moving average is $31.54. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now directly owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the company’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 completion of the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock valued at $589,131 in the last quarter. Insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PINS. JPMorgan Chase & Co. reduced their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, January 10th. Morgan Stanley lifted their price target on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Rosenblatt Securities decreased their price objective on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Robert W. Baird dropped their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.70.

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.