Cim Investment Management Inc. Sells 364 Shares of Pinterest, Inc. (NYSE:PINS)

Cim Investment Management Inc. decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 2.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 14,739 shares of the company’s stock after selling 364 shares during the period. Cim Investment Management Inc.’s holdings in Pinterest were worth $477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in shares of Pinterest during the third quarter valued at approximately $153,829,000. Southpoint Capital Advisors LP purchased a new stake in Pinterest during the third quarter valued at $123,006,000. Ontario Teachers Pension Plan Board lifted its stake in shares of Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Pinterest in the second quarter worth approximately $98,655,000. Finally, Ninety One UK Ltd grew its position in 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 buying an additional 1,679,348 shares during the period. Institutional investors own 88.81% of the company’s stock.

Insider Activity

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 33,686 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 48,287 shares of company stock valued at $1,547,820. 7.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PINS has been the topic of several recent research reports. Robert W. Baird decreased their price target on shares of 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 decreased their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Oppenheimer lowered their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.46.

Pinterest Price Performance

Pinterest stock opened at $30.81 on Friday. The firm has a market capitalization of $20.82 billion, a P/E ratio of 102.70, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The company’s 50-day moving average is $31.70 and its 200 day moving average is $34.80.

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.