Dimensional Fund Advisors LP Purchases 13,437 Shares of Pinterest, Inc. (NYSE:PINS)

Posted by on Jun 6th, 2023

Dimensional Fund Advisors LP grew its stake in Pinterest, Inc. (NYSE:PINS – Get Rating) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 812,831 shares of the company’s stock after acquiring an additional 13,437 shares during the quarter. Dimensional Fund Advisors LP owned 0.12% of Pinterest worth $19,732,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Simon Quick Advisors LLC lifted its holdings in shares of Pinterest by 4.3% during the fourth quarter. Simon Quick Advisors LLC now owns 9,934 shares of the company’s stock valued at $241,000 after purchasing an additional 408 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Pinterest by 0.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,968 shares of the company’s stock valued at $1,917,000 after purchasing an additional 430 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in shares of Pinterest by 2.0% during the third quarter. Financial Advocates Investment Management now owns 21,538 shares of the company’s stock valued at $502,000 after purchasing an additional 432 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in shares of Pinterest by 1.7% during the fourth quarter. Prospera Financial Services Inc now owns 27,873 shares of the company’s stock valued at $677,000 after purchasing an additional 474 shares in the last quarter. Finally, Capital International Sarl increased its position in Pinterest by 4.8% during the first quarter. Capital International Sarl now owns 11,867 shares of the company’s stock valued at $292,000 after acquiring an additional 539 shares during the last quarter. 71.95% of the stock is owned by institutional investors.

Pinterest Trading Up 2.7 %

Shares of NYSE PINS opened at $24.10 on Tuesday. The business’s 50 day moving average price is $24.94 and its 200-day moving average price is $25.19. Pinterest, Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $29.27.

Analyst Ratings Changes

PINS has been the subject of a number of research reports. Rosenblatt Securities upped their price objective on Pinterest from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, April 28th. Robert W. Baird reduced their price objective on Pinterest from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, April 28th. Raymond James assumed coverage on Pinterest in a research report on Wednesday, April 5th. They set an “outperform” rating and a $33.00 price objective for the company. KeyCorp upped their price target on Pinterest from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. Finally, Morgan Stanley dropped their price objective on Pinterest from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, April 28th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Pinterest currently has a consensus rating of “Hold” and an average price target of $28.40.

Insiders Place Their Bets

In other Pinterest news, SVP Naveen Gavini sold 11,185 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $27.95, for a total transaction of $312,620.75. Following the transaction, the senior vice president now directly owns 350,507 shares in the company, valued at approximately $9,796,670.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jeffrey D. Jordan sold 5,000 shares of Pinterest stock in a transaction on Monday, May 1st. The stock was sold at an average price of $23.04, for a total value of $115,200.00. Following the transaction, the director now directly owns 186,715 shares in the company, valued at approximately $4,301,913.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Naveen Gavini sold 11,185 shares of Pinterest stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $27.95, for a total value of $312,620.75. Following the completion of the transaction, the senior vice president now owns 350,507 shares in the company, valued at $9,796,670.65. The disclosure for this sale can be found here. Insiders have sold 155,648 shares of company stock worth $4,201,799 in the last ninety days. 6.85% of the stock is owned by company insiders.

About Pinterest

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Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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