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

CANADA LIFE ASSURANCE Co reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 13.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 775,936 shares of the company’s stock after selling 118,434 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Pinterest were worth $22,479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its holdings in shares of Pinterest by 89.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 693,775 shares of the company’s stock worth $20,119,000 after acquiring an additional 328,452 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Pinterest by 401.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock worth $44,000 after purchasing an additional 1,204 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Pinterest by 50.0% during the fourth quarter. Altshuler Shaham Ltd now owns 7,500 shares of the company’s stock worth $218,000 after purchasing an additional 2,500 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after buying an additional 6,129,985 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new position in shares of Pinterest in the fourth quarter valued at about $2,433,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PINS has been the subject of several research reports. UBS Group lowered their price objective on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, April 11th. KeyCorp dropped their price objective on shares of Pinterest from $41.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Guggenheim reiterated a “buy” rating on shares of Pinterest in a research report on Tuesday, April 1st. Morgan Stanley dropped their target price on Pinterest from $42.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Bank of America decreased their price target on Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $41.55.

Pinterest Trading Down 1.1 %

Shares of NYSE PINS opened at $25.17 on Friday. The company has a fifty day moving average price of $32.25 and a 200 day moving average price of $31.91. The firm has a market cap of $17.07 billion, a PE ratio of 9.36, a PEG ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (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%. Equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity

In related news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated 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 sale, the director now owns 6,274 shares of the company’s stock, valued at approximately $195,497.84. The trade was a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now directly owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 452,686 shares of company stock worth $14,797,342 over the last ninety days. Insiders own 7.11% of the company’s stock.

Pinterest Company 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.