Commerce Bank Raises Holdings in Pinterest, Inc. (NYSE:PINS)

Commerce Bank raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,868 shares of the company’s stock after acquiring an additional 378 shares during the period. Commerce Bank’s holdings in Pinterest were worth $384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest in the second quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in shares of 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 purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest in the second quarter valued at about $35,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on PINS. Barclays decreased their price target on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Rosenblatt Securities lowered their price target on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Evercore ISI cut their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock 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 research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.86.

Pinterest Price Performance

Shares of PINS opened at $31.00 on Wednesday. The company has a market cap of $20.95 billion, a P/E ratio of 103.60, a PEG ratio of 2.15 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a fifty day moving average price of $31.77 and a 200 day moving average price of $35.67.

Insider Transactions at Pinterest

In other Pinterest news, 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 owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,580 shares of company stock worth $1,063,499. 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.