Ontario Teachers Pension Plan Board Lowers Stock Holdings in Pinterest, Inc. $PINS

Ontario Teachers Pension Plan Board lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,494,452 shares of the company’s stock after selling 145,951 shares during the quarter. Pinterest makes up about 1.0% of Ontario Teachers Pension Plan Board’s investment portfolio, making the stock its 21st biggest position. Ontario Teachers Pension Plan Board owned 0.22% of Pinterest worth $48,077,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Pinterest by 30.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock valued at $33,333,000 after acquiring an additional 241,527 shares in the last quarter. Peak Retirement Planning Inc. purchased a new position in Pinterest in the third quarter valued at about $1,850,000. Allspring Global Investments Holdings LLC raised its position in Pinterest by 15.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock valued at $26,600,000 after purchasing an additional 110,089 shares during the period. Renaissance Group LLC lifted its stake in shares of Pinterest by 4.5% during the second quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock worth $36,548,000 after purchasing an additional 43,541 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Pinterest by 243.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after buying an additional 49,204 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other news, insider Malik Ducard sold 2,293 shares of Pinterest stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $22.06, for a total value of $50,583.58. Following the completion of the transaction, the insider owned 695,187 shares in the company, valued at approximately $15,335,825.22. This trade represents a 0.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the sale, the chief financial officer directly owned 540,358 shares in the company, valued at approximately $13,973,657.88. This represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,407 shares of company stock worth $855,925 in the last 90 days. 7.06% of the stock is currently owned by insiders.

Pinterest Price Performance

NYSE PINS opened at $16.38 on Thursday. The company has a market capitalization of $11.06 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 0.81 and a beta of 0.92. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93. The company’s fifty day moving average price is $23.98 and its two-hundred day moving average price is $29.45.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $0.56 EPS. Pinterest’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on PINS shares. Guggenheim dropped their target price on Pinterest from $38.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Monness Crespi & Hardt lowered shares of Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Wells Fargo & Company reduced their target price on shares of Pinterest from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Barclays decreased their target price on shares of Pinterest from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, February 13th. Finally, Zacks Research raised shares of Pinterest from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eighteen have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.87.

About Pinterest

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.