CIBC Asset Management Inc Boosts Stock Position in Pinterest, Inc. (NYSE:PINS)

CIBC Asset Management Inc boosted its holdings in Pinterest, Inc. (NYSE:PINS) by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,197 shares of the company’s stock after buying an additional 2,940 shares during the quarter. CIBC Asset Management Inc’s holdings in Pinterest were worth $702,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after purchasing an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Pinterest by 8.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the last quarter. Finally, Ninety One UK Ltd grew its holdings in shares of Pinterest by 5.4% during the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after purchasing an additional 278,362 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 4.8 %

PINS stock opened at $37.68 on Friday. The firm has a 50 day moving average of $32.92 and a 200-day moving average of $31.86. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The company has a market cap 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 posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PINS shares. KeyCorp raised 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. Piper Sandler reaffirmed a “neutral” rating and set a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a report on Friday, February 7th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Guggenheim increased their target price on shares of Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Roth Capital set a $32.00 target price on shares of Pinterest in a research note on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the transaction, the director now owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,157 shares of company stock valued at $600,010. 7.11% of the stock is owned by corporate insiders.

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.