Victory Capital Management Inc. Trims Stock Position in Pinterest, Inc. (NYSE:PINS)

Victory Capital Management Inc. decreased its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 21.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 214,172 shares of the company's stock after selling 59,589 shares during the period. Victory Capital Management Inc.'s holdings in Pinterest were worth $7,933,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PINS. Ameriprise Financial Inc. lifted its position in Pinterest by 43.9% during the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company's stock valued at $300,639,000 after acquiring an additional 3,390,924 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Pinterest by 12.6% during the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company's stock valued at $344,685,000 after purchasing an additional 1,043,173 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Pinterest by 26.0% in the 3rd quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company's stock worth $184,357,000 after purchasing an additional 1,407,793 shares in the last quarter. FMR LLC grew its stake in Pinterest by 8.1% during the 3rd quarter. FMR LLC now owns 5,097,160 shares of the company's stock worth $137,776,000 after buying an additional 381,837 shares during the last quarter. Finally, Fred Alger Management LLC increased its position in Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company's stock valued at $126,286,000 after buying an additional 4,670,394 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PINS shares. Argus upgraded Pinterest from a "hold" rating to a "buy" rating and set a $45.00 price target on the stock in a research note on Thursday, January 18th. Loop Capital raised their price target on shares of Pinterest from $43.00 to $49.00 and gave the stock a "buy" rating in a report on Monday, May 6th. Evercore ISI boosted their price objective on shares of Pinterest from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, January 26th. JPMorgan Chase & Co. raised their target price on Pinterest from $38.00 to $44.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $48.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $41.26.

Pinterest Price Performance

PINS stock traded up $0.17 during mid-day trading on Tuesday, reaching $42.02. 11,485,248 shares of the company's stock were exchanged, compared to its average volume of 10,230,482. Pinterest, Inc. has a 12-month low of $21.25 and a 12-month high of $42.95. The stock's 50 day moving average is $35.62 and its 200 day moving average is $35.37. The company has a market cap of $28.71 billion, a price-to-earnings ratio of 200.10, a price-to-earnings-growth ratio of 4.18 and a beta of 0.99.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the transaction, the director now directly owns 31,646 shares of the company's stock, valued at $1,055,077.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares of the company's stock, valued at $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the completion of the transaction, the director now owns 54,215 shares in the company, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. Insiders sold a total of 164,471 shares of company stock valued at $5,773,431 in the last three months. 7.11% of the stock is currently owned by company insiders.

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.