Pinterest, Inc. (NYSE:PINS) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC raised its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,615,844 shares of the company’s stock after acquiring an additional 27,331 shares during the quarter. Jennison Associates LLC’s holdings in Pinterest were worth $52,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 1832 Asset Management L.P. acquired a new position in Pinterest in the 2nd quarter valued at about $98,655,000. Ninety One UK Ltd raised its position in shares of Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after buying an additional 1,679,348 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Pinterest by 31.6% during the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after buying an additional 1,356,459 shares during the period. AMI Asset Management Corp acquired a new stake in Pinterest during the second quarter worth approximately $57,569,000. Finally, American Century Companies Inc. grew its stake in Pinterest by 57.6% in the 2nd quarter. American Century Companies Inc. now owns 3,042,065 shares of the company’s stock worth $134,064,000 after acquiring an additional 1,112,163 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was 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 directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’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 sale, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock valued at $1,063,499 in the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PINS shares. Oppenheimer decreased their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Stifel Nicolaus lowered their price target on Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Citigroup cut their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, Rosenblatt Securities dropped their price target on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Trading Up 0.3 %

PINS stock opened at $29.31 on Friday. The firm has a 50 day simple moving average of $31.71 and a 200-day simple moving average of $35.97. The company has a market capitalization of $19.81 billion, a P/E ratio of 97.45, a PEG ratio of 2.13 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

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.