Wilmington Savings Fund Society FSB Takes Position in Pinterest, Inc. (NYSE:PINS)

Wilmington Savings Fund Society FSB acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,695 shares of the company’s stock, valued at approximately $87,000.

A number of other institutional investors also recently bought and sold shares of PINS. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest during the 3rd quarter valued at approximately $153,829,000. Southpoint Capital Advisors LP acquired a new stake in Pinterest during the third quarter worth $123,006,000. Ontario Teachers Pension Plan Board raised its position in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Pinterest during the 2nd quarter worth $98,655,000. Finally, Acadian Asset Management LLC increased its position in shares of Pinterest by 31.6% during the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after purchasing an additional 1,356,459 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PINS. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research report on Tuesday, December 10th. Raymond James lowered their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Finally, Oppenheimer cut their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.46.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the transaction, the director now owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,437 shares of company stock worth $1,583,447 over the last three months. Insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE PINS opened at $29.49 on Friday. The stock’s 50-day simple moving average is $31.31 and its 200-day simple moving average is $34.32. The firm has a market capitalization of $19.93 billion, a PE ratio of 98.30, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

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.