AMI Asset Management Corp Sells 174,640 Shares of Pinterest, Inc. (NYSE:PINS)

AMI Asset Management Corp cut its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 13.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,131,663 shares of the company's stock after selling 174,640 shares during the quarter. Pinterest accounts for about 2.0% of AMI Asset Management Corp's investment portfolio, making the stock its 26th largest holding. AMI Asset Management Corp owned approximately 0.17% of Pinterest worth $36,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Brown Shipley& Co Ltd purchased a new stake in Pinterest during the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest during the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC raised its position in Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock valued at $33,000 after purchasing an additional 459 shares during the last quarter. GAMMA Investing LLC raised its position in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company's stock valued at $34,000 after purchasing an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in Pinterest during the 2nd quarter valued at approximately $35,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.11% of the company's stock.

Analyst Ratings Changes

PINS has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $48.00 price target on shares of Pinterest in a research report on Wednesday, July 31st. Royal Bank of Canada reissued an "outperform" rating and issued a $48.00 target price on shares of Pinterest in a research report on Thursday, September 12th. Wedbush decreased their target price on Pinterest from $46.00 to $37.00 and set a "neutral" rating for the company in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on Pinterest in a research report on Tuesday, July 16th. They issued a "peer perform" rating for the company. Finally, Wells Fargo & Company decreased their target price on Pinterest from $49.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and an average target price of $43.32.

Pinterest Stock Performance

Shares of PINS stock traded up $0.15 on Wednesday, reaching $32.58. The stock had a trading volume of 8,242,320 shares, compared to its average volume of 9,289,271. The stock has a market cap of $22.26 billion, a P/E ratio of 155.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a 50 day simple moving average of $31.75 and a 200 day simple moving average of $36.39.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company's revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Pinterest Company 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.