Pinterest, Inc. $PINS Stake Lessened by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its stake in shares of Pinterest, Inc. (NYSE:PINS) by 48.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,915 shares of the company’s stock after selling 42,144 shares during the quarter. iA Global Asset Management Inc.’s holdings in Pinterest were worth $824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. Louisiana State Employees Retirement System bought a new position in Pinterest during the 1st quarter valued at $3,114,000. Blue Trust Inc. raised its stake in shares of Pinterest by 47.4% in the 1st quarter. Blue Trust Inc. now owns 5,843 shares of the company’s stock worth $107,000 after buying an additional 1,879 shares in the last quarter. Davis Investment Partners LLC raised its stake in shares of Pinterest by 22.0% in the 1st quarter. Davis Investment Partners LLC now owns 24,437 shares of the company’s stock worth $448,000 after buying an additional 4,403 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of Pinterest by 10.7% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 19,265 shares of the company’s stock worth $353,000 after buying an additional 1,866 shares in the last quarter. Finally, OP Asset Management Ltd acquired a new stake in shares of Pinterest in the first quarter valued at $1,116,000. Institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the sale, the director directly owned 27,450 shares of the company’s stock, valued at approximately $549,000. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total transaction of $279,187.20. Following the completion of the transaction, the insider owned 691,840 shares of the company’s stock, valued at approximately $13,594,656. The trade was a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 279,070 shares of company stock worth $5,817,283. Company insiders own 8.09% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE PINS opened at $22.06 on Friday. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 1.23 and a beta of 0.89. The stock’s fifty day simple moving average is $20.47 and its 200 day simple moving average is $21.02. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS) last announced its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same period in the prior year, the business posted $0.23 earnings per share. Pinterest’s revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PINS shares. Rosenblatt Securities raised their target price on Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Guggenheim reiterated a “buy” rating and issued a $24.00 price target on shares of Pinterest in a research report on Monday, June 15th. Rothschild & Co Redburn set a $23.00 price target on shares of Pinterest and gave the company a “neutral” rating in a report on Monday, April 27th. Royal Bank Of Canada raised their price objective on shares of Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Pinterest in a research note on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.40.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.