National Bank of Canada FI Sells 564,129 Shares of Pinterest, Inc. (NYSE:PINS)

National Bank of Canada FI trimmed its holdings in Pinterest, Inc. (NYSE:PINS) by 97.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,157 shares of the company’s stock after selling 564,129 shares during the period. National Bank of Canada FI’s holdings in Pinterest were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Pinterest by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock worth $1,798,270,000 after purchasing an additional 1,263,863 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after buying an additional 4,527,902 shares in the last quarter. Ninety One UK Ltd lifted its holdings in shares of Pinterest by 10.2% in the first quarter. Ninety One UK Ltd now owns 6,027,355 shares of the company’s stock worth $186,848,000 after buying an additional 555,742 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Pinterest by 3.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,793,534 shares of the company’s stock worth $179,600,000 after acquiring an additional 205,879 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value of $1,014,005.50. Following the transaction, the chief financial officer owned 362,890 shares of the company’s stock, valued at $12,428,982.50. This represents a 7.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $36.88, for a total value of $42,412.00. Following the transaction, the director owned 31,750 shares in the company, valued at $1,170,940. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,094,279 shares of company stock valued at $38,062,654. Insiders own 7.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PINS. KeyCorp lifted their price target on shares of Pinterest from $40.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Cowen reaffirmed a “buy” rating on shares of Pinterest in a report on Friday, August 8th. Morgan Stanley upgraded Pinterest from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $37.00 to $45.00 in a research report on Monday, July 21st. Sanford C. Bernstein raised their price target on Pinterest from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Finally, Benchmark lifted their price objective on Pinterest from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Six analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Pinterest Trading Down 1.4%

Shares of PINS opened at $35.85 on Friday. The firm has a fifty day moving average price of $36.21 and a 200-day moving average price of $33.21. The firm has a market capitalization of $24.31 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.76 and a beta of 0.78. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $998.23 million for the quarter, compared to the consensus estimate of $973.42 million. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. Analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Pinterest 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.