Vision Capital Management Inc. Sells 11,538 Shares of Pinterest, Inc. (NYSE:PINS)

Vision Capital Management Inc. reduced its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,166 shares of the company's stock after selling 11,538 shares during the period. Vision Capital Management Inc.'s holdings in Pinterest were worth $2,392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PINS. Price T Rowe Associates Inc. MD boosted its holdings in Pinterest by 104.3% in the fourth 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 stake in Pinterest in the fourth quarter worth $358,205,000. Marshall Wace LLP lifted its position in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after acquiring an additional 6,129,985 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the last quarter. Finally, Contour Asset Management LLC acquired a new position in Pinterest during the 4th quarter worth $86,330,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction dated 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 directly owned 362,890 shares of the company's stock, valued at $12,428,982.50. This represents a 7.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction dated 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 transaction, the director directly owned 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,278,445 shares of company stock worth $43,269,922. Insiders own 7.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Monness Crespi & Hardt cut their price objective on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus cut their price objective on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. UBS Group cut their price objective on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Oppenheimer upped their price objective 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. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $40.52.

Pinterest Price Performance

NYSE:PINS traded down $0.35 on Friday, hitting $35.45. 4,121,036 shares of the company's stock were exchanged, compared to its average volume of 11,078,117. The firm has a 50-day moving average price of $33.27 and a 200-day moving average price of $32.13. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $42.20. The company has a market cap of $24.04 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.77 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results 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 firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. On average, research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.