iA Global Asset Management Inc. Takes Position in Pinterest, Inc. (NYSE:PINS)

iA Global Asset Management Inc. bought a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,980 shares of the company's stock, valued at approximately $782,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in shares of Pinterest by 7.4% during the third quarter. Empowered Funds LLC now owns 9,165 shares of the company's stock valued at $297,000 after purchasing an additional 635 shares during the last quarter. Quest Partners LLC grew its position in Pinterest by 1,109.4% in the 3rd quarter. Quest Partners LLC now owns 9,796 shares of the company's stock worth $317,000 after purchasing an additional 8,986 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Pinterest during the 3rd quarter valued at $458,000. Commerce Bank raised its stake in Pinterest by 3.3% during the 3rd quarter. Commerce Bank now owns 11,868 shares of the company's stock valued at $384,000 after buying an additional 378 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company's stock valued at $27,326,000 after buying an additional 32,539 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business's stock in a transaction on Monday, March 10th. The shares were 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 directly owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 29,605 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $33.95, for a total transaction of $1,005,089.75. Following the completion of the transaction, the chief financial officer now owns 166,408 shares in the company, valued at approximately $5,649,551.60. The trade was a 15.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,417 shares of company stock worth $7,803,946 in the last quarter. 7.11% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

A number of research firms recently commented on PINS. Rosenblatt Securities upped their price objective 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 reaffirmed 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. Piper Sandler reissued a "neutral" rating and issued a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a report on Friday, February 7th. Jefferies Financial Group reaffirmed a "hold" rating and set a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Wedbush increased their price target on shares of Pinterest from $38.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Pinterest has an average rating of "Moderate Buy" and a consensus target price of $43.33.

Pinterest Price Performance

Shares of Pinterest stock traded down $0.62 during trading on Thursday, hitting $32.29. The stock had a trading volume of 5,571,516 shares, compared to its average volume of 9,864,588. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The firm's fifty day simple moving average is $34.60 and its 200-day simple moving average is $32.35. The stock has a market cap of $21.90 billion, a PE ratio of 12.00, a PEG ratio of 1.95 and a beta of 1.02.

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

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.