Pinterest, Inc. (NYSE:PINS) Stock Position Lifted by Metis Global Partners LLC

Metis Global Partners LLC increased its stake in Pinterest, Inc. (NYSE:PINS) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,594 shares of the company’s stock after purchasing an additional 675 shares during the quarter. Metis Global Partners LLC’s holdings in Pinterest were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pinterest by 195.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after acquiring an additional 1,422 shares in the last quarter. Empowered Funds LLC boosted its stake in Pinterest by 25.5% during the 1st quarter. Empowered Funds LLC now owns 7,432 shares of the company’s stock valued at $258,000 after purchasing an additional 1,510 shares in the last quarter. US Bancorp DE increased its position in shares of Pinterest by 2.0% during the 1st quarter. US Bancorp DE now owns 26,602 shares of the company’s stock valued at $922,000 after purchasing an additional 521 shares during the period. Avantax Advisory Services Inc. raised its stake in shares of Pinterest by 36.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 12,604 shares of the company’s stock worth $437,000 after buying an additional 3,392 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Pinterest by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after buying an additional 51,455 shares during the period. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Oppenheimer dropped their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Citigroup dropped their target price on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company reduced their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Finally, Evercore ISI decreased their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Stock Up 2.7 %

PINS stock opened at $28.99 on Tuesday. The firm has a 50 day moving average of $31.71 and a two-hundred day moving average of $36.18. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market capitalization of $19.89 billion, a price-to-earnings ratio of 96.63, a P/E/G ratio of 2.02 and a beta of 1.02.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’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 value of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by company insiders.

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.