AMI Asset Management Corp Purchases 87,088 Shares of Pinterest, Inc. (NYSE:PINS)

AMI Asset Management Corp increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,202,023 shares of the company’s stock after acquiring an additional 87,088 shares during the quarter. Pinterest comprises 2.2% of AMI Asset Management Corp’s investment portfolio, making the stock its 20th biggest position. AMI Asset Management Corp’s holdings in Pinterest were worth $37,263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Norges Bank bought a new position in Pinterest in the fourth quarter valued at approximately $358,205,000. Marshall Wace LLP grew its stake in shares of Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock worth $310,352,000 after buying an additional 6,129,985 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after buying an additional 4,527,902 shares during the last quarter. Finally, Contour Asset Management LLC bought a new stake in shares of Pinterest during the fourth quarter worth $86,330,000. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the transaction, the director now directly owns 26,786 shares of the company’s stock, valued at $723,222. This trade represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the transaction, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $196,187.98. The trade was a 94.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,062,769 shares of company stock valued at $35,138,708 in the last three months. Company insiders own 7.06% of the company’s stock.

Pinterest Price Performance

NYSE PINS opened at $35.37 on Thursday. The company’s 50 day simple moving average is $30.84 and its two-hundred day simple moving average is $31.70. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $44.79. The stock has a market capitalization of $23.99 billion, a PE ratio of 12.91, a P/E/G ratio of 1.76 and a beta of 0.91.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same period in the previous year, the business earned $0.17 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Analysts Set New Price Targets

PINS has been the topic of a number of recent research reports. Bank of America cut their price target on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. KeyCorp boosted their target price on shares of Pinterest from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, May 9th. TD Cowen decreased their price target on shares of Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group decreased their target price on shares of Pinterest from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Citigroup boosted their target price on shares of Pinterest from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.52.

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.