Cerity Partners LLC Increases Stake in Pinterest, Inc. (NYSE:PINS)

Cerity Partners LLC raised its holdings in Pinterest, Inc. (NYSE:PINS) by 63.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,357 shares of the company’s stock after buying an additional 20,310 shares during the period. Cerity Partners LLC’s holdings in Pinterest were worth $1,695,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Comerica Bank raised its holdings in Pinterest by 5.4% during the first quarter. Comerica Bank now owns 49,865 shares of the company’s stock worth $1,729,000 after purchasing an additional 2,561 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Pinterest by 103.4% in the first quarter. Cetera Investment Advisers now owns 63,535 shares of the company’s stock valued at $2,203,000 after acquiring an additional 32,305 shares during the period. Cetera Advisors LLC purchased a new position in shares of Pinterest during the first quarter worth approximately $1,175,000. GAMMA Investing LLC grew its position in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of Pinterest by 9.8% in the 2nd quarter. DNB Asset Management AS now owns 99,598 shares of the company’s stock valued at $4,389,000 after acquiring an additional 8,926 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

PINS stock opened at $30.42 on Tuesday. The company has a 50 day moving average price of $31.80 and a two-hundred day moving average price of $35.26. The stock has a market capitalization of $20.56 billion, a P/E ratio of 101.40, a PEG ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was 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 directly owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 3.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest 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 completion of the transaction, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,287 shares of company stock valued at $1,547,820 over the last quarter. Company insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PINS shares. JPMorgan Chase & Co. decreased their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Robert W. Baird decreased their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 target price (down previously from $45.00) on shares of Pinterest in a report on Friday, November 8th. Finally, Roth Mkm cut their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.65.

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.