CIBC Private Wealth Group LLC Has $30.51 Million Position in Pinterest, Inc. (NYSE:PINS)

CIBC Private Wealth Group LLC increased its holdings in Pinterest, Inc. (NYSE:PINS) by 21.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 988,403 shares of the company’s stock after purchasing an additional 173,848 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.15% of Pinterest worth $30,512,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PINS. RWA Wealth Partners LLC grew its holdings in shares of Pinterest by 3,349.3% in the 4th quarter. RWA Wealth Partners LLC now owns 259,385 shares of the company’s stock worth $7,522,000 after purchasing an additional 251,865 shares during the last quarter. Schroder Investment Management Group grew its stake in Pinterest by 357.5% during the fourth quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock worth $79,269,000 after buying an additional 2,125,010 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Pinterest during the fourth quarter worth about $279,000. Allstate Corp bought a new position in shares of Pinterest in the fourth quarter valued at approximately $512,000. Finally, DnB Asset Management AS boosted its holdings in shares of Pinterest by 1.8% in the 4th quarter. DnB Asset Management AS now owns 101,539 shares of the company’s stock worth $2,945,000 after acquiring an additional 1,806 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the sale, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $32.24, for a total transaction of $395,036.72. Following the transaction, the insider now owns 228,510 shares of the company’s stock, 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. In the last quarter, insiders have sold 351,753 shares of company stock valued at $11,640,201. 7.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on PINS shares. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Barclays lifted their price target on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. KeyCorp lowered their price objective on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Royal Bank of Canada upped their target price on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.17.

Pinterest Stock Down 1.5 %

Pinterest stock opened at $31.01 on Tuesday. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The company has a 50 day moving average of $34.67 and a 200-day moving average of $32.42. The stock has a market capitalization of $21.03 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its earnings results 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 analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.