Savant Capital LLC Purchases 26,359 Shares of Pinterest, Inc. $PINS

Savant Capital LLC grew its position in Pinterest, Inc. (NYSE:PINS) by 43.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,381 shares of the company’s stock after buying an additional 26,359 shares during the period. Savant Capital LLC’s holdings in Pinterest were worth $2,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PINS. Ameriprise Financial Inc. boosted its stake in Pinterest by 15.0% in the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock valued at $638,969,000 after acquiring an additional 2,319,964 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Pinterest by 4.4% during the 2nd quarter. Franklin Resources Inc. now owns 16,862,033 shares of the company’s stock valued at $604,673,000 after purchasing an additional 718,105 shares during the last quarter. State Street Corp lifted its holdings in shares of Pinterest by 3.8% during the 2nd quarter. State Street Corp now owns 13,855,047 shares of the company’s stock valued at $496,842,000 after purchasing an additional 504,281 shares during the last quarter. Norges Bank acquired a new stake in shares of Pinterest in the 2nd quarter worth $477,853,000. Finally, Swedbank AB grew its stake in Pinterest by 13.6% during the 3rd quarter. Swedbank AB now owns 8,441,986 shares of the company’s stock worth $271,579,000 after buying an additional 1,011,101 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of research analyst reports. HSBC cut Pinterest from a “buy” rating to a “hold” rating and set a $24.90 price target for the company. in a research note on Friday, January 30th. Morgan Stanley lifted their target price on shares of Pinterest from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Sanford C. Bernstein dropped their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $33.00 price target (down previously from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. Finally, KeyCorp lowered their price objective on shares of Pinterest from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.96.

Insider Activity at Pinterest

In other Pinterest news, insider Malik Ducard sold 6,000 shares of the company’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $155,160.00. Following the sale, the insider directly owned 699,773 shares of the company’s stock, valued at approximately $18,096,129.78. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the transaction, the insider owned 301,214 shares of the company’s stock, valued at $8,099,644.46. The trade was a 19.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 107,454 shares of company stock worth $2,847,049 over the last three months. Company insiders own 7.06% of the company’s stock.

Pinterest Trading Up 1.6%

Shares of NYSE PINS opened at $19.63 on Friday. The company has a 50 day simple moving average of $25.51 and a two-hundred day simple moving average of $30.60. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 0.90 and a beta of 0.92. Pinterest, Inc. has a 12 month low of $19.05 and a 12 month high of $40.90.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.