Thoroughbred Financial Services LLC purchased a new position in Pinterest, Inc. (NYSE:PINS – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,591 shares of the company’s stock, valued at approximately $422,000.
Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Pinterest by 1.8% in the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after acquiring an additional 994,848 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Pinterest by 9.5% in the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after buying an additional 880,398 shares during the last quarter. Franklin Resources Inc. increased its holdings in Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after buying an additional 2,548,925 shares during the last quarter. Capital World Investors increased its holdings in Pinterest by 0.7% in the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after buying an additional 64,270 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Pinterest by 2.2% in the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock valued at $283,592,000 after buying an additional 176,540 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.
Pinterest Price Performance
Pinterest stock opened at $28.90 on Tuesday. The company has a market capitalization of $19.83 billion, a price-to-earnings ratio of 137.63, a PEG ratio of 3.27 and a beta of 1.00. Pinterest, Inc. has a one year low of $23.59 and a one year high of $45.19. The company’s fifty day moving average price is $33.57 and its two-hundred day moving average price is $36.91.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on PINS shares. 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 report on Wednesday, July 31st. Roth Mkm lowered their target price on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Citigroup lowered their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Wedbush decreased their price objective on Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $45.00 price objective on shares of Pinterest in a report on Friday. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.50.
Check Out Our Latest Stock Analysis on Pinterest
Insider Buying and Selling at Pinterest
In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.
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.
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