OLD National Bancorp IN Raises Stock Position in Pinterest, Inc. (NYSE:PINS)

OLD National Bancorp IN raised its holdings in Pinterest, Inc. (NYSE:PINS) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 448,099 shares of the company’s stock after purchasing an additional 14,968 shares during the quarter. OLD National Bancorp IN’s holdings in Pinterest were worth $12,995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. Swedbank AB lifted its holdings in shares of Pinterest by 2,108.7% in the 4th quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock valued at $38,137,000 after buying an additional 1,255,513 shares during the period. R Squared Ltd acquired a new position in Pinterest in the fourth quarter valued at approximately $169,000. SteelPeak Wealth LLC boosted its position in Pinterest by 184.9% in the 4th quarter. SteelPeak Wealth LLC now owns 45,943 shares of the company’s stock worth $1,332,000 after purchasing an additional 29,819 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Pinterest during the 4th quarter worth approximately $252,000. Finally, Pacer Advisors Inc. increased its holdings in shares of Pinterest by 94.9% during the 4th quarter. Pacer Advisors Inc. now owns 53,033 shares of the company’s stock valued at $1,538,000 after purchasing an additional 25,828 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares in the company, valued at $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock worth $589,131 over the last 90 days. 7.11% of the stock is currently owned by insiders.

Pinterest Stock Up 1.0 %

PINS opened at $33.23 on Thursday. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The business has a 50 day moving average price of $30.88 and a two-hundred day moving average price of $31.83. The company has a market cap of $22.46 billion, a PE ratio of 110.77, a P/E/G ratio of 1.61 and a beta of 1.04.

Analysts Set New Price Targets

Several analysts recently commented on PINS shares. UBS Group dropped their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Morgan Stanley lifted their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Rosenblatt Securities reduced their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Finally, Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $40.70.

Pinterest Company 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.