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

Canada Pension Plan Investment Board boosted its holdings in Pinterest, Inc. (NYSE:PINS) by 89.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 693,775 shares of the company’s stock after acquiring an additional 328,452 shares during the period. Canada Pension Plan Investment Board owned 0.10% of Pinterest worth $20,119,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Pinterest during the 4th quarter worth $358,205,000. Marshall Wace LLP boosted its stake in Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock worth $310,352,000 after buying an additional 6,129,985 shares during the period. Schroder Investment Management Group increased its position in shares of Pinterest by 357.5% during the fourth quarter. Schroder Investment Management Group now owns 2,719,355 shares of the company’s stock valued at $79,269,000 after acquiring an additional 2,125,010 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Pinterest in the 4th quarter valued at approximately $61,261,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after acquiring an additional 2,093,248 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler decreased their price target on Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. The Goldman Sachs Group lowered their target price on Pinterest from $47.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 14th. Royal Bank of Canada boosted their price target on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Roth Capital set a $32.00 price target on shares of Pinterest in a research report on Monday, February 3rd. Finally, Citigroup dropped their price objective on shares of Pinterest from $47.00 to $38.00 and set a “buy” rating for the company in a report on Monday, April 14th. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.55.

Pinterest Trading Down 1.1 %

Pinterest stock opened at $25.17 on Friday. The stock has a market capitalization of $17.07 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.95 and a beta of 0.99. The stock has a 50 day moving average of $32.25 and a two-hundred day moving average of $31.91. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month 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 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%. Equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Benjamin Silbermann sold 102,083 shares of the company’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 $196,187.98. This represents a 94.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the transaction, the director now owns 29,086 shares in the company, valued at $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 452,686 shares of company stock valued at $14,797,342 over the last ninety days. Corporate insiders own 7.11% of the company’s stock.

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.