Victory Capital Management Inc. Grows Stock Position in Pinterest, Inc. (NYSE:PINS)

Victory Capital Management Inc. raised its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 426,716 shares of the company's stock after purchasing an additional 12,431 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Pinterest worth $12,375,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Atria Investments Inc boosted its holdings in Pinterest by 4.0% during the 3rd quarter. Atria Investments Inc now owns 26,686 shares of the company's stock worth $864,000 after acquiring an additional 1,034 shares during the last quarter. Axxcess Wealth Management LLC grew its position in Pinterest by 9.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 6,965 shares of the company's stock worth $225,000 after purchasing an additional 605 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock valued at $192,423,000 after buying an additional 460,708 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Pinterest by 44.2% during the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company's stock worth $74,000 after buying an additional 703 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Pinterest by 6.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 46,783 shares of the company's stock worth $1,514,000 after buying an additional 2,997 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

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Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the transaction, the director now owns 31,386 shares of the company's stock, valued at approximately $972,338.28. This represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,879 shares of company stock worth $3,653,577 over the last 90 days. 7.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Roth Capital set a $32.00 price target on Pinterest in a report on Monday, February 3rd. Oppenheimer lifted their target price on Pinterest from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. The Goldman Sachs Group raised their price objective on shares of Pinterest from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Guggenheim increased their target price on shares of Pinterest from $33.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, Rosenblatt Securities lifted their price target on shares of Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, February 7th. 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 data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and an average target price of $43.47.

Pinterest Stock Performance

Shares of NYSE PINS traded down $2.28 during trading hours on Thursday, hitting $31.00. The company's stock had a trading volume of 17,008,509 shares, compared to its average volume of 9,753,077. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The business has a 50-day simple moving average of $34.32 and a 200-day simple moving average of $32.27. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS 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%. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

About Pinterest

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.