PNC Financial Services Group Inc. increased its position in Pinterest, Inc. (NYSE:PINS – Free Report) by 17.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,451 shares of the company’s stock after purchasing an additional 2,285 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pinterest were worth $572,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. Envestnet Portfolio Solutions Inc. acquired a new stake in Pinterest in the third quarter worth about $407,000. Envestnet Asset Management Inc. grew its position in shares of Pinterest by 69.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 358,003 shares of the company’s stock worth $9,677,000 after buying an additional 146,622 shares during the period. LPL Financial LLC grew its position in shares of Pinterest by 22.0% during the 3rd quarter. LPL Financial LLC now owns 348,803 shares of the company’s stock worth $9,428,000 after buying an additional 63,012 shares during the period. Mariner LLC grew its position in shares of Pinterest by 13.4% during the 3rd quarter. Mariner LLC now owns 73,855 shares of the company’s stock worth $1,996,000 after buying an additional 8,707 shares during the period. Finally, Northern Trust Corp grew its position in shares of Pinterest by 2.3% during the 3rd quarter. Northern Trust Corp now owns 4,165,324 shares of the company’s stock worth $112,589,000 after buying an additional 92,522 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.
Pinterest Stock Down 1.3 %
Shares of Pinterest stock opened at $44.40 on Thursday. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The stock has a market cap of $30.33 billion, a P/E ratio of 211.43, a P/E/G ratio of 4.41 and a beta of 0.97. The business’s 50 day moving average is $40.77 and its 200-day moving average is $37.79.
Insider Buying and Selling
In related news, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.08, for a total value of $701,600.00. Following the transaction, the director now directly owns 34,215 shares of the company’s stock, valued at approximately $1,200,262.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,904 shares of company stock valued at $1,613,557. 7.11% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
PINS has been the subject of several analyst reports. BMO Capital Markets boosted their target price on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Roth Mkm lifted their price objective on Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Citigroup lifted their price objective on Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price objective on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada lifted their price objective on Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.37.
View Our Latest Report on PINS
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.
Read More
- Five stocks we like better than Pinterest
- High Flyers: 3 Natural Gas Stocks for March 2022
- Stock Impact: McDonald’s Price War with Starbucks, Wendy’s
- What to Know About Investing in Penny Stocks
- General Mills Q4 Sales Miss Expectations, Triggering Stock Drop
- NYSE Stocks Give Investors a Variety of Quality OptionsĀ
- Enovix Stock Rises 35% in Short-Squeeze: This Rally Has Legs
Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.