Jennison Associates LLC Raises Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Jennison Associates LLC grew its position in Pinterest, Inc. (NYSE:PINS) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,615,844 shares of the company’s stock after purchasing an additional 27,331 shares during the period. Jennison Associates LLC owned approximately 0.24% of Pinterest worth $52,305,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PINS. Brown Shipley& Co Ltd purchased a new stake in Pinterest in the second quarter valued at $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest during the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its holdings in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the period. GAMMA Investing LLC boosted its position in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest during the 2nd quarter worth approximately $35,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In related 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,580 shares of company stock valued at $1,063,499. 7.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on PINS shares. Barclays lowered their price target on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price on the stock. Susquehanna lowered their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday, July 31st. Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company reduced their target price on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Trading Up 0.3 %

Shares of NYSE PINS opened at $29.31 on Friday. The business’s fifty day simple moving average is $31.71 and its 200-day simple moving average is $35.97. 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 $19.81 billion, a P/E ratio of 97.45, a PEG ratio of 2.13 and a beta of 1.02.

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.