Alberta Investment Management Corp Cuts Position in Pinterest, Inc. (NYSE:PINS)

Alberta Investment Management Corp lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 47.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,100 shares of the company’s stock after selling 21,400 shares during the quarter. Alberta Investment Management Corp’s holdings in Pinterest were worth $699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PINS. GAMMA Investing LLC grew its holdings in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. Crewe Advisors LLC grew its holdings in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares during the period. True Wealth Design LLC grew its holdings in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the period. V Square Quantitative Management LLC grew its holdings in Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after purchasing an additional 590 shares during the period. Finally, Manchester Capital Management LLC grew its holdings in Pinterest by 17,692.3% in the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock worth $67,000 after purchasing an additional 2,300 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, February 19th. The shares were 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $600,010 in the last three months. Corporate insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

PINS has been the topic of a number of recent research reports. Cantor Fitzgerald upped their price objective on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Oppenheimer increased their price target on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, February 7th. UBS Group cut their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Robert W. Baird cut their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.47.

Pinterest Stock Performance

PINS opened at $37.68 on Friday. The stock has a market capitalization of $25.55 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.95 and a beta of 1.06. The company has a fifty day moving average of $32.92 and a 200 day moving average of $31.86. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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%. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.