American Century Companies Inc. Cuts Stake in Pinterest, Inc. (NYSE:PINS)

American Century Companies Inc. trimmed its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,449,622 shares of the company's stock after selling 138,196 shares during the period. American Century Companies Inc. owned about 0.66% of Pinterest worth $129,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in shares of Pinterest in the 3rd quarter worth about $153,829,000. Southpoint Capital Advisors LP purchased a new stake in shares of Pinterest in the third quarter worth approximately $123,006,000. Raymond James Financial Inc. bought a new position in shares of Pinterest in the fourth quarter valued at approximately $61,261,000. Nordea Investment Management AB lifted its holdings in shares of Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock valued at $111,515,000 after purchasing an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Pinterest by 582.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company's stock valued at $65,741,000 after buying an additional 1,934,653 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of PINS traded down $0.62 during midday trading on Thursday, hitting $32.29. 5,571,516 shares of the company traded hands, compared to its average volume of 9,864,591. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm has a market cap of $21.90 billion, a P/E ratio of 12.00, a PEG ratio of 1.95 and a beta of 1.02. The stock has a 50-day moving average of $34.60 and a 200-day moving average of $32.35.

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Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the sale, the insider now owns 254,211 shares in the company, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the transaction, the director now owns 29,086 shares of the company's stock, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,753 shares of company stock worth $11,640,201. Corporate insiders own 7.11% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PINS. Barclays raised their price objective on Pinterest from $36.00 to $42.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Morgan Stanley raised their price target on shares of Pinterest from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Royal Bank of Canada boosted their price target on shares of Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. KeyCorp decreased their price objective on shares of Pinterest from $46.00 to $41.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. Finally, Wedbush boosted their target price on Pinterest from $38.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.33.

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.