Alberta Investment Management Corp Sells 21,400 Shares of Pinterest, Inc. (NYSE:PINS)

Alberta Investment Management Corp decreased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 47.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,100 shares of the company’s stock after selling 21,400 shares during the quarter. Alberta Investment Management Corp’s holdings in Pinterest were worth $699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the period. Crewe Advisors LLC raised its holdings in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares during the period. True Wealth Design LLC raised its holdings in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares during the period. V Square Quantitative Management LLC raised its holdings in Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after acquiring an additional 590 shares during the period. Finally, Manchester Capital Management LLC grew its position in shares of Pinterest by 17,692.3% during the 4th quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock valued at $67,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Activity

In related news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,157 shares of company stock valued at $600,010. Insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Cantor Fitzgerald boosted their price target on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, January 10th. KeyCorp boosted their price target on shares of Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Piper Sandler restated a “neutral” rating and set a $41.00 price target (up from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $43.47.

Pinterest Trading Down 4.8 %

Shares of NYSE:PINS opened at $37.68 on Friday. The company has a market cap of $25.55 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. The company has a 50-day moving average price of $32.92 and a 200-day moving average price of $31.86. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

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

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.