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

Geode Capital Management LLC raised its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,466,585 shares of the company’s stock after purchasing an additional 76,920 shares during the quarter. Geode Capital Management LLC owned approximately 1.38% of Pinterest worth $305,710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in shares of Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares during the last quarter. Raymond James Trust N.A. increased its position in Pinterest by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after buying an additional 319 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after buying an additional 339 shares in the last quarter. Leibman Financial Services Inc. boosted its position in shares of Pinterest by 1.2% in the third quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock valued at $1,028,000 after acquiring an additional 368 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of Pinterest by 0.7% in the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after acquiring an additional 372 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the 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 completion of the sale, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following 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 represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,287 shares of company stock worth $1,547,820 in the last quarter. 7.11% of the stock is owned by insiders.

Pinterest Trading Down 0.6 %

Pinterest stock opened at $30.65 on Friday. The stock has a 50-day moving average price of $31.65 and a two-hundred day moving average price of $34.67. 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 $20.71 billion, a PE ratio of 102.17, a P/E/G ratio of 2.26 and a beta of 1.02.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a research report on Tuesday, December 10th. Raymond James reduced their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Oppenheimer dropped their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Eight 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.46.

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.