Primecap Management Co. CA Cuts Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Primecap Management Co. CA cut its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,037,300 shares of the company's stock after selling 46,750 shares during the period. Primecap Management Co. CA owned about 0.59% of Pinterest worth $130,687,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board grew its stake in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock worth $285,248,000 after buying an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Pinterest during the second quarter worth approximately $98,655,000. Ninety One UK Ltd grew its position in shares of Pinterest by 44.6% during the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company's stock worth $239,991,000 after acquiring an additional 1,679,348 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Pinterest by 31.6% in the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company's stock valued at $248,793,000 after acquiring an additional 1,356,459 shares during the period. Finally, AMI Asset Management Corp purchased a new stake in Pinterest in the 2nd quarter valued at $57,569,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Buying and Selling at Pinterest

In other 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 transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, October 16th. The shares were 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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,580 shares of company stock worth $1,063,499. Corporate insiders own 7.11% of the company's stock.

Pinterest Trading Up 2.4 %

Shares of NYSE:PINS traded up $0.70 on Friday, hitting $30.01. The company had a trading volume of 14,754,788 shares, compared to its average volume of 9,648,641. The company has a market cap of $20.28 billion, a PE ratio of 100.07, a PEG ratio of 2.13 and a beta of 1.02. The business has a 50 day moving average of $31.71 and a 200 day moving average of $35.93. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of recent research reports. Rosenblatt Securities dropped their price objective on shares of Pinterest from $48.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target on Pinterest from $49.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $41.00 price objective on shares of Pinterest in a research report on Monday, October 7th. Barclays lowered their target price on Pinterest from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 31st. Finally, Citigroup cut their price target on Pinterest from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and a consensus target price of $42.00.

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.