BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 14,013 Shares of Pinterest, Inc. (NYSE:PINS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,005 shares of the company’s stock after selling 14,013 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Pinterest were worth $3,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Maverick Capital Ltd. lifted its stake in shares of Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after purchasing an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in Pinterest by 8.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after buying an additional 119,367 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after acquiring an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after acquiring an additional 87,041 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in shares of Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after acquiring an additional 68,096 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of recent research reports. UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Robert W. Baird lowered their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Raymond James reduced their target price on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, KeyCorp decreased their target price on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $41.65.

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,287 shares of company stock worth $1,547,820 in the last 90 days. 7.11% of the stock is owned by corporate insiders.

Pinterest Stock Performance

Shares of PINS stock opened at $31.32 on Wednesday. The firm has a market capitalization of $21.16 billion, a P/E ratio of 104.39, a P/E/G ratio of 2.18 and a beta of 1.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The stock has a 50 day moving average price of $31.80 and a 200 day moving average price of $35.18.

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.