Panagora Asset Management Inc. increased its holdings in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,590 shares of the company’s stock after buying an additional 690 shares during the period. Panagora Asset Management Inc.’s holdings in Pinterest were worth $2,726,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in shares of Pinterest during the fourth quarter worth $27,000. Rakuten Securities Inc. acquired a new position in Pinterest in the 4th quarter worth $30,000. Washington Trust Advisors Inc. increased its holdings in Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Clear Street Markets LLC acquired a new stake in shares of Pinterest in the 3rd quarter valued at about $41,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Pinterest in the fourth quarter valued at about $43,000. 88.81% of the stock is owned by institutional investors.
Pinterest Price Performance
Shares of PINS opened at $42.78 on Monday. The firm has a 50 day simple moving average of $36.07 and a two-hundred day simple moving average of $35.67. Pinterest, Inc. has a one year low of $21.84 and a one year high of $43.12. The company has a market cap of $29.23 billion, a P/E ratio of 203.72, a P/E/G ratio of 4.26 and a beta of 0.99.
Insider Transactions at Pinterest
In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the transaction, the director now owns 29,712 shares of the company’s stock, valued at $1,255,332. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $35.08, for a total transaction of $701,600.00. Following the sale, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the transaction, the director now directly owns 29,712 shares of the company’s stock, valued at approximately $1,255,332. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,405 shares of company stock valued at $5,855,142. Corporate insiders own 7.11% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Evercore ISI boosted their target price on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Roth Mkm boosted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler raised their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. BMO Capital Markets upped their price objective on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.26.
Get Our Latest Stock Report on Pinterest
Pinterest Company Profile
(Free Report)
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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