Pinterest, Inc. (NYSE:PINS) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 89.9% in the fourth quarter, HoldingsChannel reports. The firm owned 693,775 shares of the company’s stock after buying an additional 328,452 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Pinterest were worth $20,119,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Leibman Financial Services Inc. grew its holdings in shares of Pinterest by 102.2% during the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock worth $1,862,000 after buying an additional 32,464 shares in the last quarter. Janney Capital Management LLC purchased a new stake in Pinterest in the 4th quarter worth approximately $4,289,000. Jones Financial Companies Lllp raised its holdings in Pinterest by 91.3% in the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock valued at $725,000 after acquiring an additional 11,925 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Pinterest during the 4th quarter worth $520,000. Finally, Swedbank AB boosted its holdings in shares of Pinterest by 2,108.7% during the fourth quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock worth $38,137,000 after purchasing an additional 1,255,513 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays increased their target price on Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, January 10th. The Goldman Sachs Group lowered their target price on shares of Pinterest from $47.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 14th. Wells Fargo & Company cut their price target on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Finally, Bank of America lowered their price objective on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.55.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now directly owns 29,086 shares in the company, valued at approximately $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the transaction, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $196,187.98. This trade represents a 94.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 452,686 shares of company stock valued at $14,797,342. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

NYSE:PINS opened at $25.17 on Friday. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 9.36, a price-to-earnings-growth 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. The stock has a 50-day simple moving average of $32.25 and a 200 day simple moving average of $31.91.

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

About Pinterest

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.