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
|2023-06-30||Vanguard Group Inc||10%||55,897,481||$1,649,814,117|
|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||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|