Bank of Montreal Can Grows Stock Position in Pinterest, Inc. $PINS

Bank of Montreal Can lifted its position in Pinterest, Inc. (NYSE:PINS) by 67.1% during the second quarter, HoldingsChannel.com reports. The fund owned 113,053 shares of the company’s stock after acquiring an additional 45,402 shares during the period. Bank of Montreal Can’s holdings in Pinterest were worth $4,054,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new stake in shares of Pinterest during the fourth quarter worth $252,000. Envestnet Asset Management Inc. boosted its position in Pinterest by 8.5% during the first quarter. Envestnet Asset Management Inc. now owns 670,132 shares of the company’s stock worth $20,774,000 after acquiring an additional 52,563 shares during the last quarter. Cerity Partners LLC grew its stake in Pinterest by 28.1% during the 1st quarter. Cerity Partners LLC now owns 138,098 shares of the company’s stock valued at $4,281,000 after acquiring an additional 30,317 shares in the last quarter. Ballentine Partners LLC raised its holdings in Pinterest by 15.3% in the 1st quarter. Ballentine Partners LLC now owns 12,583 shares of the company’s stock valued at $390,000 after acquiring an additional 1,667 shares during the last quarter. Finally, CWM LLC raised its holdings in Pinterest by 41.4% in the 1st quarter. CWM LLC now owns 175,655 shares of the company’s stock valued at $5,445,000 after acquiring an additional 51,431 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PINS. UBS Group lowered their target price on Pinterest from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Susquehanna reissued a “positive” rating and set a $42.00 price objective on shares of Pinterest in a research note on Friday, August 8th. Wells Fargo & Company dropped their target price on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price target on Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Weiss Ratings began coverage on shares of Pinterest in a research report on Saturday, November 1st. They set a “hold (c+)” rating on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.55.

Pinterest Price Performance

NYSE PINS opened at $27.38 on Wednesday. The stock has a market capitalization of $18.62 billion, a P/E ratio of 9.51, a PEG ratio of 1.59 and a beta of 0.96. The firm’s 50-day moving average is $33.20 and its two-hundred day moving average is $33.93. 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 results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business had revenue of $665.93 million during the quarter. As a group, analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total transaction of $40,250.00. Following the transaction, the director directly owned 30,600 shares in the company, valued at $1,071,000. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The disclosure for this sale is available in the SEC filing. Insiders sold 640,236 shares of company stock worth $22,878,326 in the last ninety days. 7.11% of the stock is owned by company insiders.

About Pinterest

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.