Suvretta Capital Management LLC Grows Stake in Pinterest, Inc. (NYSE:PINS)

Suvretta Capital Management LLC lifted its stake in Pinterest, Inc. (NYSE:PINS) by 50.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 615,911 shares of the company’s stock after purchasing an additional 205,960 shares during the quarter. Suvretta Capital Management LLC’s holdings in Pinterest were worth $19,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC lifted its position in Pinterest by 38.2% in the 1st quarter. Tidal Investments LLC now owns 62,374 shares of the company’s stock valued at $2,163,000 after acquiring an additional 17,241 shares in the last quarter. Comerica Bank lifted its holdings in shares of Pinterest by 5.4% during the first quarter. Comerica Bank now owns 49,865 shares of the company’s stock valued at $1,729,000 after purchasing an additional 2,561 shares in the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of Pinterest during the first quarter valued at $722,000. Virtu Financial LLC increased its holdings in Pinterest by 93.7% in the 1st quarter. Virtu Financial LLC now owns 11,099 shares of the company’s stock worth $385,000 after buying an additional 5,368 shares in the last quarter. Finally, Swedbank AB purchased a new position in Pinterest in the 1st quarter worth about $1,714,000. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PINS shares. Robert W. Baird reduced their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. UBS Group cut their target price on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Roth Mkm decreased their target price 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. TD Cowen started coverage on Pinterest in a report on Tuesday. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective for the company. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $41.63.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 3.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,580 shares of company stock valued at $1,063,499. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Price Performance

PINS stock opened at $30.32 on Friday. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The business has a 50 day simple moving average of $31.80 and a two-hundred day simple moving average of $35.52. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 101.07, a PEG ratio of 2.17 and a beta of 1.02.

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.