AMI Asset Management Corp Sells 16,728 Shares of Pinterest, Inc. (NYSE:PINS)

AMI Asset Management Corp decreased its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,114,935 shares of the company's stock after selling 16,728 shares during the period. Pinterest accounts for about 1.7% of AMI Asset Management Corp's holdings, making the stock its 27th biggest position. AMI Asset Management Corp owned about 0.16% of Pinterest worth $32,333,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in Pinterest in the 3rd quarter worth approximately $153,829,000. Southpoint Capital Advisors LP purchased a new stake in shares of Pinterest during the third quarter worth $123,006,000. Ontario Teachers Pension Plan Board boosted its holdings in shares of Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Pinterest in the second quarter valued at $98,655,000. Finally, Nordea Investment Management AB raised its stake in shares of Pinterest by 122.1% during the 4th 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 during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Up 5.1 %

Shares of NYSE PINS traded up $1.54 during trading on Tuesday, reaching $32.07. The company had a trading volume of 14,161,200 shares, compared to its average volume of 9,601,379. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The business's 50-day moving average is $30.41 and its 200 day moving average is $32.24. The stock has a market cap of $21.68 billion, a PE ratio of 106.91, a P/E/G ratio of 1.55 and a beta of 1.04.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now directly owns 32,536 shares of the company's stock, valued at $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares of the company's stock, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is owned by insiders.

Analyst Ratings Changes

PINS has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a report on Monday, September 23rd. They issued a "buy" rating and a $43.00 price target on the stock. Robert W. Baird reduced their price target on shares of Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. UBS Group lowered their price objective on Pinterest from $52.00 to $46.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Rosenblatt Securities reduced their target price on Pinterest from $48.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Finally, Wedbush raised Pinterest from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and a consensus price target of $40.70.

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.