Pinterest, Inc. (NYSE:PINS) Shares Sold by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA has reduced its stake in Pinterest, Inc. by 2.9%, owning 3,909,000 shares valued at approximately $121 million as of the most recent reporting period.
• Analysts have a consensus rating of "Moderate Buy" for Pinterest, with a target price averaging $41.48 after recent updates from firms like UBS and Citigroup.
• Pinterest reported earnings of $0.23 per share for the last quarter, missing estimates slightly, while showing a revenue increase of 15.5% compared to the previous year.

Primecap Management Co. CA lessened its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,909,000 shares of the company's stock after selling 118,300 shares during the period. Primecap Management Co. CA owned approximately 0.58% of Pinterest worth $121,179,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PINS. Redwood Investment Management LLC raised its stake in Pinterest by 3.2% during the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after purchasing an additional 495 shares during the last quarter. NorthRock Partners LLC increased its holdings in shares of Pinterest by 4.7% during the 1st quarter. NorthRock Partners LLC now owns 11,246 shares of the company's stock worth $349,000 after purchasing an additional 502 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in shares of Pinterest by 22.2% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 3,300 shares of the company's stock valued at $102,000 after buying an additional 600 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Pinterest by 9.3% in the fourth quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock valued at $223,000 after buying an additional 656 shares during the period. Finally, SteelPeak Wealth LLC lifted its stake in shares of Pinterest by 1.5% in the first quarter. SteelPeak Wealth LLC now owns 46,613 shares of the company's stock valued at $1,445,000 after buying an additional 670 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on PINS shares. Guggenheim reaffirmed a "buy" rating on shares of Pinterest in a report on Monday, July 28th. Barclays cut their target price on Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Citigroup reiterated a "buy" rating and set a $44.00 price target (up previously from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. BMO Capital Markets dropped their price objective on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, UBS Group lifted their target price on shares of Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Five analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.48.

Pinterest Stock Up 0.8%

Shares of PINS opened at $39.18 on Thursday. The stock's fifty day simple moving average is $35.77 and its 200-day simple moving average is $33.04. The firm has a market capitalization of $26.57 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data 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 return on equity of 8.13% and a net margin of 50.41%. The firm had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of Pinterest stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the completion of the sale, the director owned 6,274 shares of the company's stock, valued at approximately $208,045.84. The trade was a 98.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,502,611 shares of company stock valued at $51,602,943 in the last quarter. Corporate insiders own 7.06% of the company's stock.

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.

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