Ontario Teachers Pension Plan Board Raises Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Ontario Teachers Pension Plan Board grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 51.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,812,117 shares of the company’s stock after buying an additional 2,996,750 shares during the period. Pinterest accounts for approximately 2.4% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 17th biggest position. Ontario Teachers Pension Plan Board owned 1.28% of Pinterest worth $285,248,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Advisors Asset Management Inc. grew its holdings in Pinterest by 3.3% in the third quarter. Advisors Asset Management Inc. now owns 421,325 shares of the company’s stock worth $13,638,000 after purchasing an additional 13,535 shares during the period. Howe & Rusling Inc. grew its stake in shares of Pinterest by 3.3% in the 3rd quarter. Howe & Rusling Inc. now owns 133,012 shares of the company’s stock worth $4,306,000 after buying an additional 4,227 shares during the last quarter. Jennison Associates LLC increased its position in Pinterest by 1.7% during the 3rd quarter. Jennison Associates LLC now owns 1,615,844 shares of the company’s stock valued at $52,305,000 after buying an additional 27,331 shares in the last quarter. Commerce Bank raised its stake in Pinterest by 3.3% during the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after buying an additional 378 shares during the last quarter. Finally, Prospera Private Wealth LLC boosted its holdings in Pinterest by 38.5% in the third quarter. Prospera Private Wealth LLC now owns 7,713 shares of the company’s stock worth $250,000 after acquiring an additional 2,146 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by company insiders.

Pinterest Stock Performance

Shares of PINS stock opened at $29.70 on Wednesday. The stock has a fifty day simple moving average of $31.70 and a two-hundred day simple moving average of $36.10. The firm has a market capitalization of $20.07 billion, a PE ratio of 99.00, a PEG ratio of 2.02 and a beta of 1.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Analysts Set New Price Targets

Several analysts recently commented on PINS shares. Citigroup cut their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $41.00 price target (down previously from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Evercore ISI decreased their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Roth Mkm cut their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Seven equities research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.