Pinterest, Inc. (NYSE:PINS) Position Raised by Commerce Bank

Commerce Bank raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 3.3% in the third quarter, HoldingsChannel.com reports. The firm owned 11,868 shares of the company’s stock after buying an additional 378 shares during the period. Commerce Bank’s holdings in Pinterest were worth $384,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest in the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in Pinterest during the second quarter worth approximately $26,000. Hexagon Capital Partners LLC grew its position in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest during the 2nd quarter valued at $35,000. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Performance

Shares of NYSE PINS opened at $31.00 on Wednesday. The business’s 50-day simple moving average is $31.77 and its 200-day simple moving average is $35.67. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a market cap of $20.95 billion, a price-to-earnings ratio of 103.60, a P/E/G ratio of 2.15 and a beta of 1.02.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PINS. 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. Roth Mkm reduced their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. Oppenheimer reduced their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Rosenblatt Securities lowered their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.86.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,580 shares of company stock worth $1,063,499 over the last 90 days. Insiders own 7.11% of the company’s stock.

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.