iA Global Asset Management Inc. Has $824,000 Stock Position in Pinterest, Inc. $PINS

iA Global Asset Management Inc. reduced its holdings in Pinterest, Inc. (NYSE:PINS) by 48.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,915 shares of the company’s stock after selling 42,144 shares during the period. iA Global Asset Management Inc.’s holdings in Pinterest were worth $824,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new position in shares of Pinterest in the 4th quarter valued at about $252,000. Integrated Wealth Concepts LLC lifted its position in shares of Pinterest by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock worth $339,000 after purchasing an additional 607 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Pinterest by 45.6% during the first quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock worth $470,000 after purchasing an additional 4,748 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Pinterest by 39.5% during the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock worth $335,000 after purchasing an additional 2,649 shares during the period. Finally, Jump Financial LLC purchased a new position in Pinterest during the second quarter valued at approximately $696,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $21.45, for a total transaction of $1,005,468.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the transaction, the director directly owned 27,450 shares in the company, valued at approximately $549,000. This represents a 7.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 279,070 shares of company stock valued at $5,817,283 over the last quarter. Insiders own 8.09% of the company’s stock.

Pinterest Stock Up 0.8%

Pinterest stock opened at $22.06 on Friday. The company has a market capitalization of $12.35 billion, a P/E ratio of 45.95, a P/E/G ratio of 1.23 and a beta of 0.89. The firm’s fifty day simple moving average is $20.47 and its 200-day simple moving average is $21.02. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. Pinterest’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. Sell-side analysts forecast that Pinterest, Inc. will post 0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on PINS. Morgan Stanley upped their price objective on shares of Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Stifel Nicolaus lifted their target price on shares of Pinterest from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Guggenheim restated a “buy” rating and set a $24.00 price target on shares of Pinterest in a report on Monday, June 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 price target (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. Finally, Mizuho increased their price objective on Pinterest from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.40.

Pinterest Company Profile

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.