Infusive Asset Management Inc. Buys New Shares in Pinterest, Inc. (NYSE:PINS)

Infusive Asset Management Inc. purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 holdings, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PINS. Ontario Teachers Pension Plan Board raised its stake in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after buying an additional 2,996,750 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in Pinterest in the second quarter valued at $98,655,000. Ninety One UK Ltd raised its stake in Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after buying an additional 1,679,348 shares in the last quarter. Acadian Asset Management LLC raised its stake in Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after buying an additional 1,356,459 shares in the last quarter. Finally, AMI Asset Management Corp acquired a new stake in Pinterest in the second quarter valued at $57,569,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PINS shares. TD Cowen started coverage on Pinterest in a research report on Tuesday. They set a “buy” rating and a $38.00 target price on the stock. UBS Group cut their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Raymond James cut their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Robert W. Baird cut their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research report on Thursday, September 12th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.63.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,129,154.72. This represents a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock worth $1,063,499 in the last three months. Insiders own 7.11% of the company’s stock.

Pinterest Trading Down 2.2 %

Shares of NYSE PINS opened at $30.32 on Friday. The firm has a market cap of $20.49 billion, a PE ratio of 101.07, a PEG ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The company has a fifty day moving average price of $31.80 and a 200 day moving average price of $35.52.

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.