CIBC Private Wealth Group LLC lifted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 988,403 shares of the company's stock after purchasing an additional 173,848 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.15% of Pinterest worth $30,512,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Leibman Financial Services Inc. increased its holdings in Pinterest by 102.2% in the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company's stock valued at $1,862,000 after buying an additional 32,464 shares in the last quarter. Janney Capital Management LLC purchased a new position in Pinterest in the 4th quarter valued at approximately $4,289,000. Jones Financial Companies Lllp raised its holdings in Pinterest by 91.3% during the fourth quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock worth $725,000 after purchasing an additional 11,925 shares during the last quarter. Weiss Asset Management LP purchased a new stake in Pinterest during the third quarter worth $1,296,000. Finally, Everence Capital Management Inc. acquired a new stake in Pinterest in the fourth quarter valued at $520,000. Hedge funds and other institutional investors own 88.81% of the company's stock.
Insiders Place Their Bets
In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total value of $3,192,135.41. Following the transaction, the director now directly owns 6,274 shares of the company's stock, valued at $196,187.98. This represents a 94.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock worth $14,832,336 in the last 90 days. 7.11% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several research firms recently commented on PINS. Roth Capital set a $32.00 price objective on shares of Pinterest in a research report on Monday, February 3rd. Sanford C. Bernstein upgraded shares of Pinterest from a "market perform" rating to an "outperform" rating and increased their price target for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Guggenheim restated a "buy" rating on shares of Pinterest in a research report on Tuesday. Royal Bank of Canada increased their target price on Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Stifel Nicolaus reissued a "buy" rating and set a $50.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.17.
Check Out Our Latest Stock Analysis on PINS
Pinterest Stock Down 6.3 %
Shares of PINS stock traded down $1.73 during mid-day trading on Friday, reaching $25.78. The company's stock had a trading volume of 22,729,308 shares, compared to its average volume of 10,226,720. The firm has a market capitalization of $17.49 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The company's 50 day simple moving average is $34.40 and its 200-day simple moving average is $32.38. Pinterest, Inc. has a 12-month low of $24.91 and a 12-month high of $45.19.
Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 8.10% and a net margin of 51.07%. As a group, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.
About Pinterest
(
Free Report)
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.
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