iA Global Asset Management Inc. Acquires 35,781 Shares of Pinterest, Inc. $PINS

iA Global Asset Management Inc. lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 69.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 87,059 shares of the company’s stock after purchasing an additional 35,781 shares during the period. iA Global Asset Management Inc.’s holdings in Pinterest were worth $2,254,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PINS. Elevated Capital Advisors LLC bought a new stake in shares of Pinterest during the fourth quarter worth $26,000. Atlantic Union Bankshares Corp grew its holdings in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after purchasing an additional 883 shares during the last quarter. Garner Asset Management Corp bought a new stake in shares of Pinterest during the fourth quarter worth $36,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Pinterest by 46.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock worth $42,000 after purchasing an additional 419 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Pinterest by 2,409.1% during the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after purchasing an additional 1,325 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PINS. Evercore set a $27.00 target price on Pinterest in a report on Tuesday, May 5th. Wells Fargo & Company increased their target price on Pinterest from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Piper Sandler restated a “neutral” rating and set a $26.00 target price (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Royal Bank Of Canada increased their target price on Pinterest from $17.00 to $23.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 5th. Finally, Robert W. Baird upped their price target on Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.40.

Pinterest Trading Up 2.3%

NYSE PINS opened at $19.92 on Tuesday. The stock has a 50-day simple moving average of $19.29 and a 200 day simple moving average of $22.61. The company has a market capitalization of $11.16 billion, a PE ratio of 41.50, a P/E/G ratio of 1.05 and a beta of 0.93. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. Research analysts forecast that Pinterest, Inc. will post 0.68 EPS for the current year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 2,100 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the sale, the director owned 27,450 shares in the company, valued at approximately $549,000. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.09% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.