Pinterest, Inc. (NYSE:PINS) Shares Sold by abrdn plc

abrdn plc cut its position in shares of Pinterest, Inc. (NYSE:PINS) by 16.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 101,428 shares of the company’s stock after selling 20,211 shares during the period. abrdn plc’s holdings in Pinterest were worth $2,957,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Maverick Capital Ltd. raised its stake in shares of Pinterest by 47.6% during the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after buying an additional 18,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Pinterest by 8.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after acquiring an additional 119,367 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after purchasing an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after purchasing an additional 87,041 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after purchasing an additional 68,096 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $34.00 to $47.00 in a research report on Friday. Guggenheim lifted their price objective on Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group upped their target price on shares of Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a report on Friday. Finally, Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Insider Transactions at Pinterest

In other Pinterest 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 transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. The trade was a 2.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now owns 32,536 shares of the company’s stock, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $589,131 over the last quarter. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Up 19.1 %

PINS opened at $40.02 on Monday. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The company has a 50 day moving average of $31.43 and a two-hundred day moving average of $31.50. The company has a market cap of $27.04 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.72 and a beta of 1.06.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. Research analysts anticipate that Pinterest, Inc. will post 0.59 earnings per share for the current year.

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.