AMI Asset Management Corp Increases Position in Pinterest, Inc. (NYSE:PINS)

AMI Asset Management Corp raised its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,202,023 shares of the company's stock after acquiring an additional 87,088 shares during the quarter. Pinterest makes up 2.2% of AMI Asset Management Corp's investment portfolio, making the stock its 20th largest position. AMI Asset Management Corp owned 0.18% of Pinterest worth $37,263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Garde Capital Inc. purchased a new stake in Pinterest in the first quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Pinterest in the fourth quarter worth $28,000. NBC Securities Inc. raised its holdings in Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after buying an additional 999 shares during the last quarter. American National Bank & Trust purchased a new position in Pinterest in the 1st quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Pinterest by 665.4% during the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after purchasing an additional 1,058 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PINS shares. Raymond James Financial lowered shares of Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Wells Fargo & Company decreased their price target on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Morgan Stanley boosted their price objective on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Barclays decreased their target price on Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Finally, Oppenheimer boosted their price target on Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and an average price target of $40.52.

Pinterest Price Performance

Shares of Pinterest stock traded up $0.55 during trading on Friday, reaching $35.68. 3,652,991 shares of the stock traded hands, compared to its average volume of 10,916,864. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $44.79. The business has a fifty day simple moving average of $30.84 and a two-hundred day simple moving average of $31.70. The company has a market capitalization of $24.20 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.74 and a beta of 0.91.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share 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 for the quarter, compared to analysts' expectations of $848.49 million. During the same quarter in the prior year, the business earned $0.17 EPS. The business's quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $35.99, for a total value of $3,673,967.17. Following the completion of the transaction, the director now owns 8,414 shares in the company, valued at approximately $302,819.86. The trade was a 92.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 29,606 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the transaction, the chief financial officer now directly owns 362,890 shares in the company, valued at approximately $12,428,982.50. This represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,164,852 shares of company stock valued at $38,812,675. 7.06% of the stock is owned by corporate 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.