Pinterest, Inc. (NYSE:PINS) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Pinterest, Inc. (NYSE:PINS) by 13.8% in the 4th quarter, HoldingsChannel reports. The fund owned 24,197 shares of the company’s stock after acquiring an additional 2,940 shares during the period. CIBC Asset Management Inc’s holdings in Pinterest were worth $702,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Maverick Capital Ltd. raised its holdings in Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after acquiring an additional 18,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Pinterest by 8.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after buying an additional 119,367 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after buying an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after buying an additional 87,041 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its holdings in shares of Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after buying an additional 68,096 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PINS. KeyCorp upped their price objective on Pinterest from $37.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. The Goldman Sachs Group upped their price objective on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company upped their price objective on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Roth Capital set a $32.00 price target on shares of Pinterest in a research report on Monday, February 3rd. Finally, Oppenheimer upped their price target on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus target price of $43.47.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the sale, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,157 shares of company stock valued at $600,010. Insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of PINS stock opened at $37.68 on Friday. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The company’s 50-day simple moving average is $32.92 and its 200-day simple moving average is $31.86. The stock has a market capitalization of $25.55 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.95 and a beta of 1.06.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Pinterest Profile

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.