Connor Clark & Lunn Investment Management Ltd. Sells 125,175 Shares of Pinterest, Inc. (NYSE:PINS)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Pinterest, Inc. (NYSE:PINS) by 80.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,377 shares of the company’s stock after selling 125,175 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pinterest were worth $1,016,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brown Shipley& Co Ltd bought a new position in shares of Pinterest in the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $35,000. Institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,580 shares of company stock valued at $1,063,499. Company insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

NYSE:PINS opened at $30.33 on Thursday. The firm has a market capitalization of $20.50 billion, a price-to-earnings ratio of 101.10, a P/E/G ratio of 2.19 and a beta of 1.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The stock has a fifty day moving average of $31.81 and a 200 day moving average of $35.56.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PINS. Roth Mkm dropped their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Raymond James decreased their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. KeyCorp decreased their price target on Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Susquehanna decreased their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.63.

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.