Cibc World Markets Corp Decreases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Cibc World Markets Corp trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 21.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,313 shares of the company’s stock after selling 7,612 shares during the quarter. Cibc World Markets Corp’s holdings in Pinterest were worth $792,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PINS. Maverick Capital Ltd. grew its holdings in Pinterest by 47.6% during the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after purchasing an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Pinterest by 8.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after purchasing an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after purchasing an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after acquiring an additional 87,041 shares during the period. Finally, Leibman Financial Services Inc. boosted its holdings in shares of Pinterest by 102.2% in the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock worth $1,862,000 after acquiring an additional 32,464 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Price Performance

Shares of NYSE:PINS opened at $32.45 on Friday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market cap of $22.01 billion, a PE ratio of 12.06, a P/E/G ratio of 1.95 and a beta of 1.02. The stock’s 50-day moving average is $34.39 and its 200 day moving average is $32.28.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the completion of the sale, the director now directly owns 6,274 shares in the company, valued at approximately $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 207,812 shares of company stock valued at $6,798,857. 7.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PINS shares. Roth Capital set a $32.00 price target on Pinterest in a report on Monday, February 3rd. Rosenblatt Securities lifted their price objective on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James lifted their price objective on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wedbush lifted their price objective on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.30.

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.