Pinterest, Inc. (NYSE:PINS) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 4.0% during the third quarter, Holdings Channel reports. The fund owned 844,187 shares of the company’s stock after purchasing an additional 32,539 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Pinterest were worth $27,326,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Baillie Gifford & Co. boosted its stake in shares of Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after acquiring an additional 880,398 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after acquiring an additional 2,996,750 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Pinterest by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock worth $262,695,000 after buying an additional 380,431 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Pinterest by 8.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after buying an additional 460,708 shares during the period. Finally, Acadian Asset Management LLC lifted its position 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 buying an additional 1,356,459 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

PINS has been the topic of several recent analyst reports. Stifel Nicolaus reduced their target price on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. Oppenheimer reduced their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Evercore ISI reduced their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Roth Mkm reduced their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $30.51 on Tuesday. The company has a market cap of $20.62 billion, a P/E ratio of 101.70, a PEG ratio of 2.15 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The business’s 50-day simple moving average is $31.73 and its 200 day simple moving average is $35.76.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’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. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’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 sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock worth $1,063,499 in the last 90 days. 7.11% of the stock is owned by corporate insiders.

Pinterest Company 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.