Glenmede Trust Co. NA Has $36.71 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Glenmede Trust Co. NA reduced its stake in shares of Pinterest, Inc. (NYSE:PINS) by 0.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,134,161 shares of the company’s stock after selling 1,007 shares during the period. Glenmede Trust Co. NA’s holdings in Pinterest were worth $36,713,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PINS. Ontario Teachers Pension Plan Board boosted its holdings 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. 1832 Asset Management L.P. bought a new position in shares of Pinterest in the 2nd quarter valued at about $98,655,000. Ninety One UK Ltd raised its stake in Pinterest by 44.6% in the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after acquiring an additional 1,679,348 shares during the period. Acadian Asset Management LLC boosted its position in Pinterest by 31.6% during the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after purchasing an additional 1,356,459 shares during the period. Finally, AMI Asset Management Corp bought a new stake in shares of Pinterest during the 2nd quarter worth about $57,569,000. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the transaction, the director now owns 32,536 shares in the company, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $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 valued at $1,063,499 in the last three months. Insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Roth Mkm lowered their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 target price (down from $45.00) on shares of Pinterest in a report on Friday, November 8th. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, Susquehanna dropped their price objective on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.63.

Pinterest Stock Performance

Shares of NYSE PINS opened at $30.33 on Thursday. The stock has a market cap of $20.50 billion, a P/E ratio of 101.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The firm has a 50 day moving average price of $31.81 and a two-hundred day moving average price of $35.56. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

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.