This afternoon we watched Pinterest drop -1.2% to a price of $29.52 per share. The large-cap Software company is now trading -10.1% below its average target price of $32.83. 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.
Pinterest's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 4.8%. The stock's short ratio is 2.5. The company's insiders own 0.99% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.
Another number to watch is the company's rate of institutional share ownership, which now stands at 93.3%. In conclusion, we believe there is mixed market sentiment regarding Pinterest.
Institutions Invested in Pinterest
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 10% | 55,897,481 | $1,649,814,117 |
| 2023-06-30 | Blackrock Inc. | 6% | 34,476,228 | $1,017,565,848 |
| 2023-06-30 | Price (T.Rowe) Associates Inc | 6% | 32,959,432 | $972,797,615 |
| 2023-06-30 | Elliott Investment Management L.p. | 5% | 28,000,000 | $826,419,982 |
| 2023-06-30 | Macquarie Group Limited | 4% | 20,764,399 | $612,861,223 |
| 2023-06-30 | Barclays Plc | 3% | 17,255,561 | $509,297,872 |
| 2023-06-30 | State Street Corporation | 2% | 11,830,478 | $349,176,550 |
| 2023-06-30 | Harris Associates L.P. | 2% | 11,344,771 | $334,840,909 |
| 2023-06-30 | Baillie Gifford and Company | 1% | 8,466,549 | $249,890,188 |
| 2023-06-30 | Geode Capital Management, LLC | 1% | 8,143,222 | $240,347,192 |
