Sanctuary Advisors LLC boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 42.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,353 shares of the company's stock after buying an additional 36,925 shares during the period. Sanctuary Advisors LLC's holdings in Pinterest were worth $3,733,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Maverick Capital Ltd. lifted its position in shares of Pinterest by 47.6% in the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company's stock worth $1,851,000 after purchasing an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company's stock worth $49,855,000 after buying an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Pinterest by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company's stock worth $27,326,000 after buying an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company's stock valued at $137,669,000 after buying an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its holdings 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 valued at $13,087,000 after acquiring an additional 68,096 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 3.30 % 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 dated Wednesday, November 27th. The stock was 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 of the company's stock, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,287 shares of company stock valued at $1,547,820 over the last three months. 7.11% of the stock is owned by corporate insiders.
Several analysts recently issued reports on PINS shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $48.00 price target on shares of Pinterest in a research note on Tuesday, December 10th. Benchmark reissued a "hold" rating on shares of Pinterest in a research note on Friday, November 8th. UBS Group reduced their target price on shares of Pinterest from $52.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Finally, Piper Sandler lowered shares of Pinterest from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $41.00 to $36.00 in a research note on Tuesday, December 10th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.46.
Get Our Latest Report on PINS
NYSE:PINS opened at $30.30 on Tuesday. The firm's 50-day moving average is $31.65 and its 200-day moving average is $34.62. The company has a market cap of $20.48 billion, a price-to-earnings ratio of 101.00, a PEG ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Pinterest, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinterest wasn't on the list.
While Pinterest currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.