Banque Cantonale Vaudoise Increases Stake in Pinterest, Inc.

Swiss financial institution Banque Cantonale Vaudoise has recently expanded its investment in Pinterest, Inc. (NYSE:PINS), a popular social media platform. During the third quarter, the bank increased its shareholding in Pinterest by 27.5%, as reported in the latest 13F filing with the Securities and Exchange Commission (SEC). This acquisition brought Banque Cantonale Vaudoise's total ownership to 14,162 shares, which at the time of the filing were valued at approximately $381,000.

Institutional Investors' Movements

Alongside Banque Cantonale Vaudoise, several other institutional investors and hedge funds have adjusted their positions in Pinterest. Notable movements include Compass Wealth Management LLC and Cohanzick Management LLC initiating new positions in the company, and Massmutual Trust Co. FSB ADV and Stonebridge Capital Advisors LLC significantly increasing their holdings. These institutions represent a part of the 72.63% of Pinterest's stock owned by institutional investors.

Inside Transactions

There have been notable insider transactions as well. Wanjiku Juanita Walcott, an insider at Pinterest, sold 11,410 shares at an average price of $32.28 each, which amounted to over $368,000. Post-transaction, Walcott still holds a substantial number of shares valued close to $7 million. Additionally, Director Gokul Rajaram sold 1,934 shares with a total value of above $73,000. Over a recent three-month period, insiders have sold shares worth more than $2.8 million, which amounts to 6.85% of total stock ownership.

Analysts' Opinions on Pinterest

Financial analysts have been closely monitoring Pinterest's stock and have provided various forecasts. Several have upgraded their ratings to 'buy,' while others maintain a 'neutral' stance. The consensus target price from various analysts stands at $36.90, reflecting a generally optimistic outlook for the company.

Stock Performance Overview

Pinterest's stock opened at $40.71, showing a significant increase from previous periods. The market capitalization of Pinterest stands at $27.45 billion with a P/E ratio that indicates market speculation on future earnings. Tracking averages over 50 and 200 days show steady growth, signifying that Pinterest's stock is maintaining an upward trend.

About Pinterest

Pinterest operates as a visual discovery engine, providing a platform for people to find ideas and inspiration for various interests and activities. It offers unique features like video and product pins and includes tools for planning and organization. The company is recognized for personalizing user experience based on individual tastes, and it also facilitates direct shopping through shoppable product pins.

Pinterest, Investment, Banking