Victory Capital Management Inc. Sells 74,865 Shares of Pinterest, Inc. (NYSE:PINS)

Victory Capital Management Inc. reduced its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 17.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,851 shares of the company's stock after selling 74,865 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Pinterest worth $10,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PINS. Janney Montgomery Scott LLC raised its position in Pinterest by 73.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock worth $2,760,000 after purchasing an additional 37,829 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Pinterest in the 1st quarter worth approximately $235,000. Concurrent Investment Advisors LLC bought a new stake in shares of Pinterest during the 1st quarter valued at $261,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Pinterest by 21.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company's stock valued at $3,478,000 after acquiring an additional 19,552 shares during the last quarter. Finally, Revolve Wealth Partners LLC bought a new stake in shares of Pinterest during the 4th quarter valued at $252,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research report on Thursday, May 15th. Oppenheimer upped their target price on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Wedbush upped their target price on shares of Pinterest from $40.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. BMO Capital Markets dropped their target price on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Wells Fargo & Company set a $42.00 target price on shares of Pinterest and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Five research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.81.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of Pinterest stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director directly owned 6,274 shares of the company's stock, valued at $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 1,502,611 shares of company stock valued at $51,602,943 over the last quarter. Company insiders own 7.06% of the company's stock.

Pinterest Price Performance

NYSE:PINS traded up $0.23 during mid-day trading on Friday, reaching $37.90. The stock had a trading volume of 4,248,701 shares, compared to its average volume of 8,305,104. The stock has a 50-day simple moving average of $34.54 and a two-hundred day simple moving average of $32.55. The stock has a market capitalization of $25.71 billion, a PE ratio of 13.83, a P/E/G ratio of 1.89 and a beta of 0.94. 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business's revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. Equities analysts expect 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.