Pinterest, Inc. (NYSE:PINS) Stake Reduced by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 775,936 shares of the company’s stock after selling 118,434 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.11% of Pinterest worth $22,479,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Whipplewood Advisors LLC acquired a new stake in Pinterest during the 4th quarter valued at $28,000. GAMMA Investing LLC grew its holdings in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its position in Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after buying an additional 1,204 shares during the period. V Square Quantitative Management LLC lifted its stake in Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after acquiring an additional 590 shares in the last quarter. Finally, Huntington National Bank boosted its position in Pinterest by 484.1% during the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock worth $59,000 after acquiring an additional 1,680 shares during the period. 88.81% of the stock is owned by institutional investors.

Pinterest Trading Down 1.1 %

Shares of Pinterest stock opened at $25.17 on Friday. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19. The company’s fifty day simple moving average is $32.25 and its 200-day simple moving average is $31.91.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS 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%. As a group, research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on PINS shares. Citigroup reduced their price target on shares of Pinterest from $47.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Oppenheimer lifted their target price on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays upped their price target on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. The Goldman Sachs Group reduced their price objective on Pinterest from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Bank of America dropped their target price on Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.55.

Insiders Place Their Bets

In related 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 completion of the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the director now directly owns 6,274 shares in the company, valued at $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 quarter, insiders sold 452,686 shares of company stock worth $14,797,342. 7.11% of the stock is currently owned by company insiders.

Pinterest Company 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.