Pinterest, Inc. (NYSE:PINS) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Pinterest, Inc. (NYSE:PINS) by 31.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 546,305 shares of the company’s stock after buying an additional 131,176 shares during the period. Thrivent Financial for Lutherans’ holdings in Pinterest were worth $17,684,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Brown Shipley& Co Ltd acquired a new stake in Pinterest during the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest during the second quarter worth approximately $26,000. Hexagon Capital Partners LLC boosted its stake in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC grew its holdings in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest in the 2nd quarter worth $35,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PINS. Raymond James reduced their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price objective (down previously from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Susquehanna decreased their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research note on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. Finally, Citigroup reduced their target price on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated 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 directly owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 9.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the 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 sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

Pinterest Price Performance

Shares of NYSE:PINS opened at $29.24 on Thursday. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a fifty day moving average price of $31.71 and a 200 day moving average price of $36.02. The stock has a market cap of $19.76 billion, a P/E ratio of 97.45, a P/E/G ratio of 2.02 and a beta of 1.02.

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.