Pinterest, Inc. (NYSE:PINS) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Pinterest, Inc. (NYSE:PINS) by 45.6% in the third quarter, HoldingsChannel.com reports. The firm owned 414,285 shares of the company’s stock after acquiring an additional 129,676 shares during the period. Victory Capital Management Inc.’s holdings in Pinterest were worth $13,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd acquired a new position in Pinterest in the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest in the second quarter worth $26,000. Hexagon Capital Partners LLC boosted its holdings in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC boosted its holdings in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC acquired a new position in Pinterest in the second quarter worth $35,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred 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 represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the 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 transaction, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore ISI cut their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Barclays cut their target price on Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Oppenheimer cut their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Rosenblatt Securities cut their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Citigroup cut their target price on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Trading Down 1.5 %

PINS stock opened at $29.24 on Thursday. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm has a market capitalization of $19.76 billion, a PE ratio of 97.45, a P/E/G ratio of 2.02 and a beta of 1.02. The firm has a 50-day moving average of $31.71 and a two-hundred day moving average of $36.02.

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.