CIBC Asset Management Inc lessened its position in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 7.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,903 shares of the company’s stock after selling 1,515 shares during the period. CIBC Asset Management Inc’s holdings in Pinterest were worth $700,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of PINS. GAMMA Investing LLC bought a new position in shares of Pinterest in the 4th quarter worth about $27,000. Rakuten Securities Inc. acquired a new position in Pinterest in the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. boosted its holdings in shares of Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares in the last quarter. Clear Street Markets LLC acquired a new stake in shares of Pinterest during the 3rd quarter worth approximately $41,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Pinterest in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 88.81% of the company’s stock.
Pinterest Stock Up 3.2 %
Pinterest stock opened at $44.11 on Monday. The firm has a 50 day moving average price of $38.24 and a 200-day moving average price of $36.82. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $44.20. The company has a market capitalization of $30.13 billion, a P/E ratio of 210.06, a P/E/G ratio of 4.39 and a beta of 0.97.
Pinterest (NYSE:PINS – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Equities analysts expect that Pinterest, Inc. will post 0.43 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on PINS shares. Citigroup raised their price target on shares of Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. KeyCorp decreased their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Wells Fargo & Company increased their price target on Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Wedbush boosted their price objective on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Sanford C. Bernstein increased their target price on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.34.
Get Our Latest Report on PINS
Insider Buying and Selling
In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the sale, the director now directly owns 33,580 shares of the company’s stock, valued at $1,145,078. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Donnelly Julia Brau sold 30,221 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $35.45, for a total transaction of $1,071,334.45. Following the sale, the chief financial officer now owns 327,358 shares of the company’s stock, valued at approximately $11,604,841.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the transaction, the director now directly owns 33,580 shares of the company’s stock, valued at approximately $1,145,078. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,650 shares of company stock valued at $2,466,665. 7.11% of the stock is owned by insiders.
About Pinterest
(Free Report)
Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.
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