Truist Financial Corp Buys 15,296 Shares of Pinterest, Inc. (NYSE:PINS)

Truist Financial Corp grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 51.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,169 shares of the company’s stock after acquiring an additional 15,296 shares during the quarter. Truist Financial Corp’s holdings in Pinterest were worth $1,235,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of Pinterest by 59.8% during the 2nd quarter. Nordea Investment Management AB now owns 1,102,335 shares of the company’s stock valued at $30,568,000 after acquiring an additional 412,339 shares during the last quarter. Achmea Investment Management B.V. boosted its position in shares of Pinterest by 10.6% during the 1st quarter. Achmea Investment Management B.V. now owns 42,181 shares of the company’s stock valued at $1,151,000 after acquiring an additional 4,028 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Pinterest during the 1st quarter valued at about $686,000. Handelsbanken Fonder AB lifted its position in Pinterest by 2.6% in the 1st quarter. Handelsbanken Fonder AB now owns 342,152 shares of the company’s stock worth $9,330,000 after buying an additional 8,537 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Pinterest by 14.9% in the 1st quarter. Two Sigma Advisers LP now owns 6,848,300 shares of the company’s stock worth $186,753,000 after buying an additional 885,700 shares during the last quarter. Institutional investors own 72.63% of the company’s stock.

Pinterest Stock Up 0.7 %

NYSE PINS opened at $30.94 on Monday. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $31.36. The firm has a market capitalization of $20.73 billion, a PE ratio of -96.69, a P/E/G ratio of 9.70 and a beta of 0.99. The stock’s 50 day moving average is $27.14 and its 200 day moving average is $26.16.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 25,557 shares of Pinterest stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $25.34, for a total transaction of $647,614.38. Following the sale, the insider now directly owns 277,446 shares in the company, valued at $7,030,481.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pinterest news, insider Wanjiku Juanita Walcott sold 25,557 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $25.34, for a total value of $647,614.38. Following the sale, the insider now directly owns 277,446 shares of the company’s stock, valued at $7,030,481.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $25.25, for a total value of $48,833.50. Following the completion of the sale, the director now directly owns 54,854 shares in the company, valued at $1,385,063.50. The disclosure for this sale can be found here. Insiders have sold 257,177 shares of company stock worth $6,929,371 over the last ninety days. 6.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on Pinterest from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 31st. Citigroup upgraded Pinterest from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $36.00 in a research report on Wednesday, September 20th. JPMorgan Chase & Co. lifted their price target on Pinterest from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Wolfe Research lifted their price target on Pinterest from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Piper Sandler lifted their price target on Pinterest from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 31st. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.27.

Pinterest Company Profile

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.