Optas LLC Increases Holdings in Pinterest, Inc. (NYSE:PINS)

Optas LLC grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 5.7% during the fourth quarter, HoldingsChannel reports. The firm owned 21,162 shares of the company’s stock after buying an additional 1,145 shares during the period. Optas LLC’s holdings in Pinterest were worth $614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Pinterest in the third quarter valued at about $153,829,000. Southpoint Capital Advisors LP acquired a new stake in shares of Pinterest during the 3rd quarter valued at approximately $123,006,000. Ontario Teachers Pension Plan Board lifted its stake in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Nordea Investment Management AB increased its stake in Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after purchasing an additional 2,093,248 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Pinterest by 582.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock worth $65,741,000 after purchasing an additional 1,934,653 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Up 0.4 %

PINS opened at $33.09 on Tuesday. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The firm has a market capitalization of $22.36 billion, a P/E ratio of 110.31, a PEG ratio of 1.68 and a beta of 1.04. The stock has a fifty day moving average of $31.01 and a 200-day moving average of $31.65.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $589,131 in the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PINS. Oppenheimer lowered their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Morgan Stanley increased their target price on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Pinterest in a research report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, TD Cowen began coverage on shares of Pinterest in a research report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price for the company. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.70.

Pinterest 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.