Geode Capital Management LLC Has $305.71 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Geode Capital Management LLC boosted its position in Pinterest, Inc. (NYSE:PINS) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,466,585 shares of the company’s stock after purchasing an additional 76,920 shares during the period. Geode Capital Management LLC’s holdings in Pinterest were worth $305,710,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new stake in shares of Pinterest during the 2nd quarter worth approximately $265,000. Wealth Enhancement Advisory Services LLC grew its holdings in Pinterest by 6.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,340 shares of the company’s stock worth $1,293,000 after purchasing an additional 1,704 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Pinterest by 4.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 21,315 shares of the company’s stock worth $939,000 after purchasing an additional 891 shares during the period. Blue Trust Inc. increased its stake in Pinterest by 251.7% in the second quarter. Blue Trust Inc. now owns 2,272 shares of the company’s stock valued at $100,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Pinterest by 8.9% during the second quarter. Raymond James & Associates now owns 788,453 shares of the company’s stock valued at $34,747,000 after purchasing an additional 64,731 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,287 shares of company stock worth $1,547,820 over the last three months. 7.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PINS has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Rosenblatt Securities reduced their price objective on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective for the company. KeyCorp cut their target price on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Robert W. Baird reduced their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.46.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $30.65 on Friday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company’s 50-day moving average is $31.65 and its 200 day moving average is $34.67. The company has a market capitalization of $20.71 billion, a P/E ratio of 102.17, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02.

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.