Primecap Management Co. CA Decreases Stock Position in Pinterest, Inc. (NYSE:PINS)

Primecap Management Co. CA reduced its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,027,300 shares of the company's stock after selling 10,000 shares during the period. Primecap Management Co. CA owned approximately 0.60% of Pinterest worth $116,792,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PINS. Whipplewood Advisors LLC purchased a new stake in shares of Pinterest in the fourth quarter valued at about $28,000. GAMMA Investing LLC boosted its holdings in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after acquiring an additional 415 shares in the last quarter. Crewe Advisors LLC boosted its holdings in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company's stock valued at $37,000 after acquiring an additional 550 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock valued at $49,000 after acquiring an additional 1,487 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock valued at $50,000 after acquiring an additional 590 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

Several analysts have recently weighed in on PINS shares. Monness Crespi & Hardt raised shares of Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a report on Friday, January 10th. Oppenheimer boosted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Wedbush boosted their price objective on shares of Pinterest from $38.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Jefferies Financial Group reissued a "hold" rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, TD Cowen initiated coverage on shares of Pinterest in a report on Tuesday, November 26th. They set a "buy" rating and a $38.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.30.

Pinterest Price Performance

PINS stock traded up $1.03 on Friday, hitting $32.45. 15,160,111 shares of the company were exchanged, compared to its average volume of 9,889,355. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The business's fifty day moving average is $34.39 and its two-hundred day moving average is $32.27. The stock has a market capitalization of $22.01 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

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

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now owns 6,274 shares of the company's stock, valued at approximately $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,812 shares of company stock worth $6,798,857 over the last ninety days. 7.11% of the stock is owned by company insiders.

Pinterest 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.