Pinterest Stock Surges Today – Unraveling the Reasons.

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.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.

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