Pinterest, Inc. (NYSE:PINS) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 421,325 shares of the company’s stock after acquiring an additional 13,535 shares during the quarter. Advisors Asset Management Inc.’s holdings in Pinterest were worth $13,638,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. raised its holdings in Pinterest by 9.5% in the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after buying an additional 880,398 shares during the period. Bank of New York Mellon Corp boosted its position in Pinterest by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock worth $262,695,000 after purchasing an additional 380,431 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after purchasing an additional 460,708 shares in the last quarter. Acadian Asset Management LLC raised its position in Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after purchasing an additional 1,356,459 shares during the period. Finally, Ninety One UK Ltd lifted its stake in shares of Pinterest by 44.6% during the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after purchasing an additional 1,679,348 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. Morgan Stanley lifted their target price on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. UBS Group reduced their price objective on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Stifel Nicolaus lowered their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Oppenheimer reduced their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Pinterest Trading Up 2.4 %

Shares of PINS stock opened at $29.70 on Wednesday. The company has a market capitalization of $20.07 billion, a price-to-earnings ratio of 99.00, a P/E/G ratio of 2.02 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The stock’s fifty day simple moving average is $31.70 and its 200-day simple moving average is $36.10.

About Pinterest

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.