Optas LLC Raises Holdings in Pinterest, Inc. (NYSE:PINS)

Optas LLC lifted its position in Pinterest, Inc. (NYSE:PINS) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,162 shares of the company’s stock after purchasing an additional 1,145 shares during the quarter. Optas LLC’s holdings in Pinterest were worth $614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in Pinterest by 12.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,153 shares of the company’s stock valued at $1,902,000 after purchasing an additional 4,712 shares during the last quarter. Algert Global LLC bought a new position in shares of Pinterest during the second quarter valued at approximately $463,000. Creative Planning raised its holdings in shares of Pinterest by 27.0% in the second quarter. Creative Planning now owns 48,954 shares of the company’s stock worth $2,157,000 after buying an additional 10,405 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Pinterest by 300.8% during the 2nd quarter. NewEdge Advisors LLC now owns 22,811 shares of the company’s stock worth $1,005,000 after acquiring an additional 17,120 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Pinterest by 8.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,109 shares of the company’s stock worth $666,000 after purchasing an additional 1,181 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $589,131 over the last 90 days. 7.11% of the stock is owned by corporate insiders.

Pinterest Price Performance

Shares of NYSE PINS opened at $33.09 on Tuesday. The company has a market cap of $22.36 billion, a price-to-earnings ratio of 110.31, a price-to-earnings-growth ratio of 1.68 and a beta of 1.04. The stock’s 50-day moving average is $31.01 and its two-hundred day moving average is $31.65. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PINS. Raymond James decreased their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. UBS Group lowered their price objective 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. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Pinterest in a research report on Tuesday, January 28th. Finally, Robert W. Baird dropped their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.