Pinterest, Inc. $PINS Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Pinterest, Inc. (NYSE:PINS) by 30.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,036,157 shares of the company’s stock after buying an additional 241,527 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of Pinterest worth $33,333,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Peak Retirement Planning Inc. acquired a new stake in shares of Pinterest during the third quarter worth $1,850,000. Atlantic Union Bankshares Corp increased its stake in Pinterest by 3,839.1% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after purchasing an additional 883 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Pinterest by 34.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 42,523 shares of the company’s stock worth $1,428,000 after purchasing an additional 10,840 shares in the last quarter. Transcend Capital Advisors LLC acquired a new stake in Pinterest during the 3rd quarter worth about $273,000. Finally, Thrivent Financial for Lutherans lifted its stake in Pinterest by 18.7% during the third quarter. Thrivent Financial for Lutherans now owns 418,928 shares of the company’s stock valued at $13,477,000 after buying an additional 65,881 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the sale, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. The trade was a 4.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Malik Ducard sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $155,160.00. Following the completion of the transaction, the insider owned 699,773 shares in the company, valued at $18,096,129.78. This represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,407 shares of company stock worth $855,925 in the last 90 days. Corporate insiders own 7.06% of the company’s stock.

Analyst Ratings Changes

PINS has been the topic of several analyst reports. Roth Mkm dropped their target price on shares of Pinterest from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. The Goldman Sachs Group decreased their price objective on shares of Pinterest from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Cantor Fitzgerald cut their target price on shares of Pinterest from $40.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Royal Bank Of Canada reduced their target price on Pinterest from $45.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Finally, Zacks Research upgraded Pinterest from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.78.

Pinterest Stock Down 6.1%

Pinterest stock opened at $19.09 on Thursday. Pinterest, Inc. has a 12 month low of $19.05 and a 12 month high of $39.93. The stock has a market cap of $12.89 billion, a P/E ratio of 6.63, a P/E/G ratio of 0.89 and a beta of 0.92. The company’s fifty day simple moving average is $25.08 and its 200-day simple moving average is $30.23.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.