Oppenheimer Asset Management Inc. Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

Oppenheimer Asset Management Inc. raised its position in Pinterest, Inc. (NYSE:PINS) by 6.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,783 shares of the company’s stock after buying an additional 2,997 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Pinterest were worth $1,514,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PINS. Vanguard Group Inc. increased its stake in shares of Pinterest by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after purchasing an additional 994,848 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock worth $445,818,000 after buying an additional 880,398 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Pinterest by 6.8% during the 2nd 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 shares of Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after buying an additional 460,708 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Pinterest by 31.6% in the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after acquiring an additional 1,356,459 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was 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. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’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 transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PINS. Wells Fargo & Company reduced their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Evercore ISI decreased their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. KeyCorp cut their price objective on Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Robert W. Baird lowered their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Rosenblatt Securities dropped their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Stock Performance

NYSE:PINS opened at $28.24 on Monday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a 50 day moving average price of $31.71 and a 200 day moving average price of $36.21. The stock has a market capitalization of $19.38 billion, a P/E ratio of 94.14, a PEG 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.