Harel Insurance Investments & Financial Services Ltd. Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 699.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 296,033 shares of the company’s stock after buying an additional 259,002 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Pinterest were worth $8,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Maverick Capital Ltd. boosted its holdings in Pinterest by 47.6% in the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after acquiring an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after purchasing an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Pinterest by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after purchasing an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after purchasing an additional 87,041 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after buying an additional 68,096 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PINS. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. KeyCorp reduced their target price on Pinterest from $39.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lowered their price target on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Raymond James lowered their target price on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.70.

Pinterest Trading Up 0.3 %

NYSE PINS opened at $32.92 on Friday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 109.72, a PEG ratio of 1.61 and a beta of 1.04. The company’s 50 day moving average is $30.64 and its two-hundred day moving average is $32.09.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’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 value of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $589,131 in the last three months. Company 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.