iA Global Asset Management Inc. Purchases Shares of 26,980 Pinterest, Inc. (NYSE:PINS)

iA Global Asset Management Inc. purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,980 shares of the company’s stock, valued at approximately $782,000.

Other large investors also recently made changes to their positions in the company. Royal London Asset Management Ltd. increased its stake in shares of Pinterest by 5.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 293,402 shares of the company’s stock valued at $8,509,000 after acquiring an additional 14,942 shares during the period. Vinva Investment Management Ltd increased its stake in shares of Pinterest by 888.6% during the fourth quarter. Vinva Investment Management Ltd now owns 346,629 shares of the company’s stock valued at $10,186,000 after acquiring an additional 311,566 shares during the period. Xponance Inc. grew its position in Pinterest by 8.3% in the fourth quarter. Xponance Inc. now owns 115,498 shares of the company’s stock worth $3,349,000 after buying an additional 8,854 shares during the last quarter. Advisors Asset Management Inc. grew its position in Pinterest by 3.0% in the fourth quarter. Advisors Asset Management Inc. now owns 434,027 shares of the company’s stock worth $12,587,000 after buying an additional 12,702 shares during the last quarter. Finally, Clearwater Capital Advisors LLC grew its position in Pinterest by 25.1% in the fourth quarter. Clearwater Capital Advisors LLC now owns 16,148 shares of the company’s stock worth $468,000 after buying an additional 3,235 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $32.45 on Friday. The company has a 50-day simple moving average of $34.39 and a 200-day simple moving average of $32.28. The firm has a market capitalization of $22.01 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PINS. Raymond James lifted their price target on shares of Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada lifted their price target on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research 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 research report on Friday, February 7th. Rosenblatt Securities lifted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.30.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now directly owns 6,274 shares in the company, valued at $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 207,812 shares of company stock valued at $6,798,857 over the last quarter. 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.