Ninety One UK Ltd Increases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Ninety One UK Ltd lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 5.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,471,613 shares of the company’s stock after buying an additional 278,362 shares during the quarter. Ninety One UK Ltd’s holdings in Pinterest were worth $158,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Pinterest during the third quarter worth about $37,000. Crewe Advisors LLC raised its holdings in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares in the last quarter. True Wealth Design LLC lifted its position in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares during the period. Finally, Rakuten Securities Inc. boosted its holdings in Pinterest by 44.2% in the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock valued at $74,000 after purchasing an additional 703 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PINS has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company reduced their target price on Pinterest from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Rosenblatt Securities decreased their target price on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, January 10th. Finally, Benchmark reissued a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.70.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $589,131 in the last three months. 7.11% of the stock is currently owned by company insiders.

Pinterest Trading Up 1.0 %

Shares of PINS opened at $33.40 on Wednesday. The stock’s fifty day simple moving average is $31.11 and its 200 day simple moving average is $31.54. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The firm has a market capitalization of $22.57 billion, a P/E ratio of 111.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06.

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.