abrdn plc Acquires 28,769 Shares of Pinterest, Inc. (NYSE:PINS)

abrdn plc boosted its holdings in Pinterest, Inc. (NYSE:PINS) by 31.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,639 shares of the company’s stock after purchasing an additional 28,769 shares during the period. abrdn plc’s holdings in Pinterest were worth $3,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Leibman Financial Services Inc. raised its holdings in Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after acquiring an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after buying an additional 313 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Pinterest by 1.1% in the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after buying an additional 319 shares in the last quarter. Toronto Dominion Bank increased its holdings in Pinterest by 0.7% during the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after buying an additional 372 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. raised its position in Pinterest by 1.6% during the second quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after acquiring an additional 373 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Trading Up 0.7 %

NYSE PINS opened at $32.02 on Monday. The firm’s 50 day simple moving average is $31.74 and its 200 day simple moving average is $36.37. The firm has a market capitalization of $21.97 billion, a price-to-earnings ratio of 118.60, a P/E/G ratio of 2.45 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, October 16th. The stock was 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction 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 completion of the transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Oppenheimer initiated coverage on shares of Pinterest in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 price objective for the company. Morgan Stanley boosted their price target on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company cut their price objective on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. 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. Finally, KeyCorp raised their price target on Pinterest from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.56.

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.