Pinterest, Inc. (NYSE:PINS) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of Pinterest, Inc. (NYSE:PINS) by 45.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 414,285 shares of the company’s stock after buying an additional 129,676 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Pinterest worth $13,410,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. Kornitzer Capital Management Inc. KS lifted its stake in shares of Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after buying an additional 68,096 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares in the last quarter. GDS Wealth Management acquired a new position in shares of Pinterest in the 3rd quarter valued at $2,517,000. TimesSquare Capital Management LLC boosted its holdings in shares of Pinterest by 16.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,963,645 shares of the company’s stock valued at $63,563,000 after buying an additional 273,855 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in Pinterest in the 2nd quarter valued at $5,045,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Pinterest Stock Down 1.5 %

PINS opened at $29.24 on Thursday. The firm has a market capitalization of $19.76 billion, a P/E ratio of 97.45, a P/E/G ratio of 2.02 and a beta of 1.02. The firm’s 50 day moving average is $31.71 and its 200-day moving average is $36.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup cut their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Raymond James decreased their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Rosenblatt Securities decreased their price target on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

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.