Thrivent Financial for Lutherans increased its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 31.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 546,305 shares of the company's stock after buying an additional 131,176 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Pinterest worth $17,684,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its holdings in Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock worth $445,818,000 after purchasing an additional 880,398 shares during the period. Bank of New York Mellon Corp lifted its stake in Pinterest by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock worth $262,695,000 after acquiring an additional 380,431 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock worth $192,423,000 after acquiring an additional 460,708 shares during the period. Acadian Asset Management LLC grew its holdings in 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 acquiring an additional 1,356,459 shares in the last quarter. Finally, Ninety One UK Ltd increased its position in Pinterest by 44.6% during the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company's stock valued at $239,991,000 after purchasing an additional 1,679,348 shares during the period. Institutional investors own 88.81% of the company's stock.
In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business'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 value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares of the company's stock, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.
PINS has been the subject of a number of analyst reports. Oppenheimer lowered their target price on Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $41.00 target price on shares of Pinterest in a research note on Monday, October 7th. Roth Mkm cut their price objective on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Susquehanna decreased their target price on shares of Pinterest from $50.00 to $45.00 and set a "positive" rating for the company in a research report on Wednesday, July 31st. Finally, Benchmark reaffirmed a "hold" rating on shares of Pinterest in a 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.00.
Check Out Our Latest Report on PINS
Shares of PINS opened at $29.24 on Thursday. The company has a market capitalization of $19.76 billion, a price-to-earnings ratio of 97.45, a PEG ratio of 2.02 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The stock's 50-day moving average price is $31.71 and its 200-day moving average price is $36.02.
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.
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