TCW Group Inc. Increases Holdings in Pinterest, Inc. (NYSE:PINS)

TCW Group Inc. boosted its position in Pinterest, Inc. (NYSE:PINS) by 14.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690,082 shares of the company’s stock after buying an additional 88,086 shares during the quarter. TCW Group Inc. owned approximately 0.10% of Pinterest worth $22,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in shares of Pinterest during the 2nd quarter valued at $265,000. Diversified Trust Co grew its stake in shares of Pinterest by 23.1% during the second quarter. Diversified Trust Co now owns 26,112 shares of the company’s stock valued at $1,151,000 after buying an additional 4,892 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of 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 buying an additional 1,704 shares during the period. PGGM Investments purchased a new position in shares of Pinterest in the second quarter worth about $590,000. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Pinterest by 4.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 21,315 shares of the company’s stock valued at $939,000 after acquiring an additional 891 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Trading Down 3.7 %

Pinterest stock opened at $31.83 on Wednesday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 106.10, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02. The business’s fifty day simple moving average is $31.77 and its two-hundred day simple moving average is $34.84.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,287 shares of company stock valued at $1,547,820 in the last quarter. 7.11% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on PINS shares. KeyCorp decreased their price target on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Piper Sandler downgraded shares of Pinterest from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $41.00 to $36.00 in a research note on Tuesday. Roth Mkm lowered their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. cut their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, UBS Group lowered their price objective on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $41.46.

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.