CIBC Private Wealth Group LLC Purchases 173,848 Shares of Pinterest, Inc. (NYSE:PINS)

CIBC Private Wealth Group LLC boosted its position in Pinterest, Inc. (NYSE:PINS) by 21.3% in the 4th quarter, HoldingsChannel reports. The firm owned 988,403 shares of the company’s stock after acquiring an additional 173,848 shares during the period. CIBC Private Wealth Group LLC’s holdings in Pinterest were worth $30,512,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RWA Wealth Partners LLC raised its stake in Pinterest by 3,349.3% in the fourth quarter. RWA Wealth Partners LLC now owns 259,385 shares of the company’s stock valued at $7,522,000 after buying an additional 251,865 shares during the period. Schroder Investment Management Group raised its stake in Pinterest by 357.5% in the 4th quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock valued at $79,269,000 after acquiring an additional 2,125,010 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Pinterest during the 4th quarter valued at $279,000. Allstate Corp bought a new position in Pinterest during the fourth quarter worth $512,000. Finally, DnB Asset Management AS increased its holdings in shares of Pinterest by 1.8% in the fourth quarter. DnB Asset Management AS now owns 101,539 shares of the company’s stock valued at $2,945,000 after purchasing an additional 1,806 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $31.01 on Tuesday. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.95 and a beta of 1.02. The stock has a fifty day moving average of $34.67 and a 200-day moving average of $32.42.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 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%. As a group, equities analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the transaction, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. This trade represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the completion of the sale, the insider now directly owns 228,510 shares in the company, valued at approximately $7,367,162.40. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,753 shares of company stock valued at $11,640,201 in the last ninety days. 7.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Raymond James upped their price target on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Rosenblatt Securities upped their target price on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. KeyCorp decreased their price objective on Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Finally, Wedbush lifted their target price on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.17.

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.