Bank of Montreal Can Decreases Stake in Pinterest, Inc. (NYSE:PINS)

Bank of Montreal Can lessened its stake in Pinterest, Inc. (NYSE:PINS) by 74.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,146 shares of the company’s stock after selling 279,556 shares during the quarter. Bank of Montreal Can’s holdings in Pinterest were worth $2,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC increased its holdings in shares of Pinterest by 42.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 124,353 shares of the company’s stock worth $3,733,000 after buying an additional 36,925 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Pinterest during the third quarter worth $87,000. GAMMA Investing LLC raised its position in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares during the period. Everence Capital Management Inc. purchased a new stake in Pinterest in the fourth quarter valued at $520,000. Finally, Nordea Investment Management AB increased its position in shares of Pinterest by 122.1% during the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after purchasing an additional 2,093,248 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $25.99 on Wednesday. The company has a 50-day simple moving average of $33.12 and a 200-day simple moving average of $32.07. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $45.19. The firm has a market capitalization of $17.63 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.95 and a beta of 0.99.

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 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.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the business’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 sale, the director now owns 29,086 shares of the company’s stock, valued at $1,139,880.34. The trade was a 3.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 452,686 shares of company stock worth $14,797,342. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PINS. Guggenheim reiterated a “buy” rating on shares of Pinterest in a report on Tuesday, April 1st. Cantor Fitzgerald boosted their target price on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group lowered their price target on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Roth Capital set a $32.00 price target on Pinterest in a research note on Monday, February 3rd. Finally, Raymond James cut Pinterest from an “overweight” rating to a “market perform” rating in a report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.81.

Pinterest 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.