CANADA LIFE ASSURANCE Co Sells 118,434 Shares of Pinterest, Inc. (NYSE:PINS)

CANADA LIFE ASSURANCE Co lessened its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 775,936 shares of the company's stock after selling 118,434 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.11% of Pinterest worth $22,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Pinterest by 2.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company's stock valued at $366,000 after acquiring an additional 342 shares in the last quarter. Ethos Financial Group LLC lifted its holdings in shares of Pinterest by 3.1% in the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company's stock valued at $342,000 after purchasing an additional 350 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Pinterest by 0.9% during the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company's stock valued at $1,154,000 after buying an additional 372 shares in the last quarter. GAMMA Investing LLC raised its position in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after buying an additional 415 shares during the period. Finally, Steph & Co. lifted its stake in Pinterest by 6.4% in the 4th quarter. Steph & Co. now owns 7,048 shares of the company's stock worth $204,000 after acquiring an additional 425 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Performance

Shares of NYSE:PINS traded up $0.13 on Thursday, hitting $25.74. 13,867,175 shares of the company were exchanged, compared to its average volume of 10,564,131. The company's 50 day moving average price is $31.40 and its two-hundred day moving average price is $31.75. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a one year low of $23.68 and a one year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results 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 net margin of 51.07% and a return on equity of 8.10%. Research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the transaction, the director now owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $32.24, for a total value of $395,036.72. Following the completion of the sale, the insider now 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. Over the last ninety days, insiders sold 452,686 shares of company stock worth $14,797,342. 7.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PINS. Jefferies Financial Group reiterated a "hold" rating and issued a $32.00 target price (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Raymond James lowered shares of Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. KeyCorp decreased their target price on shares of Pinterest from $41.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. dropped their price target on shares of Pinterest from $42.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price objective on Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $41.10.

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.