Investment Management Corp of Ontario Sells 23,425 Shares of Pinterest, Inc. (NYSE:PINS)

Investment Management Corp of Ontario trimmed its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 36.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,154 shares of the company's stock after selling 23,425 shares during the period. Investment Management Corp of Ontario's holdings in Pinterest were worth $1,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PINS. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after buying an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after purchasing an additional 4,527,902 shares in the last quarter. FMR LLC increased its position in shares of Pinterest by 2.6% during the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after purchasing an additional 316,633 shares during the last quarter. Norges Bank bought a new position in shares of Pinterest during the 4th quarter valued at about $358,205,000. Finally, Marshall Wace LLP raised its holdings in shares of Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after buying an additional 6,129,985 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Up 1.0%

PINS stock traded up $0.32 during midday trading on Friday, hitting $32.56. The company's stock had a trading volume of 11,143,283 shares, compared to its average volume of 10,720,824. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19. The company has a 50 day moving average of $28.72 and a two-hundred day moving average of $31.23.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the transaction, the director now directly owns 29,086 shares in the company, valued at approximately $1,139,880.34. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 862,168 shares of company stock valued at $28,368,681. Insiders own 7.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PINS. Bank of America decreased their price target on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Roth Capital set a $32.00 target price on shares of Pinterest in a research report on Monday, February 3rd. Piper Sandler cut their price target on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. UBS Group reduced their price objective on Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Oppenheimer upped their price target on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and an average target price of $40.26.

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.