164,907 Shares in Pinterest, Inc. (NYSE:PINS) Bought by Infusive Asset Management Inc.

Infusive Asset Management Inc. purchased a new stake in Pinterest, Inc. (NYSE:PINS) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 164,907 shares of the company’s stock, valued at approximately $5,338,000. Pinterest makes up about 2.2% of Infusive Asset Management Inc.’s investment portfolio, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its stake 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 acquiring an additional 880,398 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the period. Bank of New York Mellon Corp grew its stake in Pinterest by 6.8% in 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 buying an additional 380,431 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake 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 worth $192,423,000 after buying an additional 460,708 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Pinterest by 31.6% in the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after buying an additional 1,356,459 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

Shares of PINS stock opened at $30.32 on Friday. The business’s fifty day moving average price is $31.80 and its 200 day moving average price is $35.52. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a market capitalization of $20.49 billion, a PE ratio of 101.07, a P/E/G ratio of 2.17 and a beta of 1.02.

Analyst Ratings Changes

PINS has been the subject of a number of research reports. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Benchmark restated a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Oppenheimer decreased their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Raymond James reduced their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.63.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,580 shares of company stock valued at $1,063,499 over the last quarter. Insiders own 7.11% of the company’s stock.

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.