Townsquare Capital LLC trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 41,600 shares of the company’s stock after selling 1,547 shares during the period. Townsquare Capital LLC’s holdings in Pinterest were worth $1,347,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board raised its stake in 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 buying an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Pinterest in the 2nd quarter worth about $98,655,000. Ninety One UK Ltd boosted its stake in Pinterest by 44.6% in the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after purchasing an additional 1,679,348 shares in the last quarter. Acadian Asset Management LLC grew its position in Pinterest by 31.6% during the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after purchasing an additional 1,356,459 shares during the last quarter. Finally, AMI Asset Management Corp bought a new stake in Pinterest during the 2nd quarter valued at about $57,569,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.
Insiders Place Their Bets
In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,287 shares of company stock worth $1,547,820 over the last three months. 7.11% of the stock is currently owned by company insiders.
Pinterest Stock Performance
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on PINS. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research note on Thursday, September 12th. Raymond James cut their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Oppenheimer decreased their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price objective (down from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Finally, Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.65.
View Our Latest Research Report on Pinterest
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.
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