Pinterest, Inc. (NYSE:PINS) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in Pinterest, Inc. (NYSE:PINS) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,257 shares of the company’s stock after acquiring an additional 1,105 shares during the quarter. CIBC Asset Management Inc’s holdings in Pinterest were worth $688,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PINS. Baillie Gifford & Co. raised its holdings in shares of Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock worth $445,818,000 after purchasing an additional 880,398 shares during the period. Bank of New York Mellon Corp raised its stake in Pinterest by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock worth $262,695,000 after acquiring an additional 380,431 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after acquiring an additional 1,356,459 shares during the period. Finally, Ninety One UK Ltd grew its holdings in shares of Pinterest by 44.6% during the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after purchasing an additional 1,679,348 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PINS shares. Oppenheimer cut their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company decreased their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Evercore ISI lowered their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their price target on Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Trading Down 1.5 %

PINS opened at $29.24 on Thursday. The firm’s fifty day simple moving average is $31.71 and its 200 day simple moving average is $36.02. The stock has a market capitalization of $19.76 billion, a P/E ratio of 97.45, a P/E/G ratio of 2.02 and a beta of 1.02. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

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.