iA Global Asset Management Inc. Grows Position in Pinterest, Inc. $PINS

iA Global Asset Management Inc. grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 1,382.5% in the third quarter, HoldingsChannel.com reports. The fund owned 51,278 shares of the company’s stock after purchasing an additional 47,819 shares during the period. iA Global Asset Management Inc.’s holdings in Pinterest were worth $1,650,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after buying an additional 506 shares in the last quarter. N.E.W. Advisory Services LLC raised its position in shares of Pinterest by 505.7% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after buying an additional 713 shares in the last quarter. West Branch Capital LLC bought a new stake in shares of Pinterest during the 2nd quarter worth $36,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest in the second quarter worth $40,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Pinterest in the second quarter valued at $45,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PINS. Evercore ISI cut their price objective on Pinterest from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Guggenheim cut their target price on Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. BMO Capital Markets reduced their price target on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Benchmark decreased their price target on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Wall Street Zen cut shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.64.

Pinterest Price Performance

Shares of NYSE:PINS opened at $25.92 on Friday. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The stock’s 50-day moving average is $26.24 and its 200 day moving average is $31.63. The company has a market cap of $17.51 billion, a PE ratio of 9.00, a P/E/G ratio of 1.23 and a beta of 0.91.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.04). The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. Pinterest’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. Analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In related news, insider Malik Ducard sold 6,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $155,160.00. Following the transaction, the insider owned 699,773 shares in the company, valued at $18,096,129.78. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 105,161 shares of company stock valued at $2,796,466. 7.06% of the stock is currently owned by company insiders.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.