Suvretta Capital Management LLC Buys 205,960 Shares of Pinterest, Inc. (NYSE:PINS)

Suvretta Capital Management LLC boosted its stake in Pinterest, Inc. (NYSE:PINS) by 50.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 615,911 shares of the company’s stock after acquiring an additional 205,960 shares during the period. Suvretta Capital Management LLC owned 0.09% of Pinterest worth $19,937,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Leibman Financial Services Inc. boosted its stake in Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after buying an additional 266 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after acquiring an additional 313 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Pinterest by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after acquiring an additional 319 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Pinterest by 0.7% in the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after purchasing an additional 372 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 32,580 shares of company stock valued at $1,063,499. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Down 2.2 %

NYSE:PINS opened at $30.32 on Friday. The firm’s fifty day simple moving average is $31.80 and its 200 day simple moving average is $35.52. The stock has a market cap of $20.49 billion, a P/E ratio of 101.07, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $41.00 target price (down from $45.00) on shares of Pinterest in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Robert W. Baird cut their target price on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Oppenheimer lowered their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $41.63.

Pinterest Company 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.