This morning we watched Pinterest rise 3.5% to a price of $27.12 per share. The large-cap Software company is now trading -15.45% below its average target price of $32.08. Analysts have set target prices ranging from $24.0 to $45.0 per share for Pinterest, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 3.6%, and a short ratio of 2.04. The company's insiders own 0.99% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 93.3% of Pinterest's shares being owned by this investor type.
Institutions Invested in Pinterest
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 10% | 55,897,481 | $1,516,219,172 |
| 2023-06-30 | Blackrock Inc. | 6% | 34,476,228 | $935,167,684 |
| 2023-06-30 | Price (T.Rowe) Associates Inc | 6% | 32,959,432 | $894,024,593 |
| 2023-06-30 | Elliott Investment Management L.p. | 5% | 28,000,000 | $759,500,000 |
| 2023-06-30 | Macquarie Group Limited | 4% | 20,764,399 | $563,234,322 |
| 2023-06-30 | Barclays Plc | 3% | 17,255,561 | $468,057,092 |
| 2023-06-30 | State Street Corporation | 2% | 11,830,478 | $320,901,715 |
| 2023-06-30 | Harris Associates L.P. | 2% | 11,344,771 | $307,726,913 |
| 2023-06-30 | Baillie Gifford and Company | 1% | 8,466,549 | $229,655,141 |
| 2023-06-30 | Geode Capital Management, LLC | 1% | 8,143,222 | $220,884,896 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Pinterest.
