Banco Santander S.A. lessened its stake in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,098 shares of the company’s stock after selling 794 shares during the period. Banco Santander S.A.’s holdings in Pinterest were worth $939,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC increased its position in Pinterest by 11.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 250,616 shares of the company’s stock valued at $8,689,000 after buying an additional 26,346 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Pinterest by 24.7% during the 1st quarter. Kingsview Wealth Management LLC now owns 31,843 shares of the company’s stock valued at $1,104,000 after buying an additional 6,312 shares in the last quarter. Clearwater Capital Advisors LLC increased its position in Pinterest by 29.8% during the 1st quarter. Clearwater Capital Advisors LLC now owns 11,729 shares of the company’s stock valued at $407,000 after buying an additional 2,695 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Pinterest by 18.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 800,886 shares of the company’s stock valued at $27,767,000 after buying an additional 125,035 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in Pinterest by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,071 shares of the company’s stock valued at $23,855,000 after buying an additional 28,261 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.
Pinterest Stock Performance
Shares of Pinterest stock traded down $0.18 during trading hours on Friday, hitting $40.78. The company’s stock had a trading volume of 10,265,896 shares, compared to its average volume of 6,325,802. The business has a 50 day moving average price of $42.61 and a two-hundred day moving average price of $38.42. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The company has a market cap of $27.86 billion, a PE ratio of 194.20, a PEG ratio of 3.98 and a beta of 0.97.
Insider Activity
In other news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now directly owns 189,470 shares in the company, valued at $8,317,733. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total value of $81,711.50. Following the sale, the director now directly owns 29,712 shares in the company, valued at $1,255,332. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock worth $2,191,304 over the last ninety days. Corporate insiders own 7.11% of the company’s stock.
Analyst Ratings Changes
A number of research firms have commented on PINS. Royal Bank of Canada lifted their target price on Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their target price on Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Wolfe Research initiated coverage on Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, BMO Capital Markets lifted their price objective on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $42.04.
Check Out Our Latest Analysis on PINS
Pinterest 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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