Ninety One UK Ltd Purchases 278,362 Shares of Pinterest, Inc. (NYSE:PINS)

Ninety One UK Ltd grew its position in Pinterest, Inc. (NYSE:PINS) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,471,613 shares of the company’s stock after acquiring an additional 278,362 shares during the quarter. Ninety One UK Ltd owned 0.81% of Pinterest worth $158,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its position in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Pinterest in the 3rd quarter worth about $37,000. Crewe Advisors LLC increased its holdings in shares of Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in Pinterest by 44.2% in the third quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock worth $74,000 after acquiring an additional 703 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PINS has been the topic of several analyst reports. TD Cowen started coverage on Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Raymond James cut their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Rosenblatt Securities decreased their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $40.70.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock valued at $589,131 in the last quarter. Corporate insiders own 7.11% of the company’s stock.

Pinterest Trading Up 1.0 %

Shares of NYSE PINS opened at $33.40 on Wednesday. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The stock has a market cap of $22.57 billion, a P/E ratio of 111.35, a PEG ratio of 1.68 and a beta of 1.06. The business’s fifty day simple moving average is $31.11 and its 200-day simple moving average is $31.54.

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.