Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Pinterest, Inc. (NYSE:PINS) by 615.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,375 shares of the company’s stock after acquiring an additional 192,998 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pinterest were worth $6,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PINS. Whipplewood Advisors LLC bought a new position in Pinterest in the 4th quarter valued at $28,000. GAMMA Investing LLC grew its position in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares in the last quarter. Crewe Advisors LLC increased its stake in Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after acquiring an additional 590 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Friday, February 7th. Morgan Stanley raised their price objective on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Guggenheim lifted their price objective on shares of Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. KeyCorp increased their target price on Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company lifted their price target on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.47.

Pinterest Price Performance

Shares of NYSE:PINS opened at $31.92 on Friday. The stock’s 50-day moving average is $34.34 and its 200 day moving average is $32.27. The company has a market cap of $21.65 billion, a PE ratio of 11.87, a P/E/G ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last posted its 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%. Analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,879 shares of company stock worth $3,653,577. 7.11% of the stock is currently owned by corporate insiders.

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.