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

Cerity Partners LLC lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 63.4% during the third quarter, Holdings Channel reports. The fund owned 52,357 shares of the company’s stock after purchasing an additional 20,310 shares during the quarter. Cerity Partners LLC’s holdings in Pinterest were worth $1,695,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on PINS. TD Cowen started coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research report on Monday, October 7th. Oppenheimer reduced their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price on the stock. Finally, Benchmark restated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.65.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,287 shares of company stock valued at $1,547,820. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Stock Performance

Shares of NYSE PINS opened at $30.42 on Tuesday. The stock has a 50 day moving average price of $31.80 and a 200 day moving average price of $35.26. The firm has a market capitalization of $20.56 billion, a price-to-earnings ratio of 101.40, a PEG ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

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.