Primecap Management Co. CA Has $93.36 Million Holdings in Pinterest, Inc. $PINS

Primecap Management Co. CA trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 33.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,603,400 shares of the company’s stock after selling 1,305,600 shares during the period. Primecap Management Co. CA’s holdings in Pinterest were worth $93,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PINS. Golden State Wealth Management LLC increased its holdings in shares of Pinterest by 282.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after acquiring an additional 506 shares during the last quarter. West Branch Capital LLC acquired a new stake in Pinterest in the 2nd quarter worth approximately $36,000. Wellington Shields Capital Management LLC bought a new stake in Pinterest during the second quarter worth approximately $40,000. SVB Wealth LLC acquired a new position in Pinterest during the first quarter valued at approximately $56,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Pinterest by 138.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock valued at $57,000 after purchasing an additional 922 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS opened at $25.45 on Thursday. The company has a 50-day simple moving average of $31.91 and a 200-day simple moving average of $33.88. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $40.90. The firm has a market capitalization of $17.19 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.56 and a beta of 0.96.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The firm had revenue of $665.93 million for the quarter. As a group, equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on PINS shares. Wedbush decreased their price objective on shares of Pinterest from $44.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company cut their target price on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Sanford C. Bernstein lowered their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 price objective (down from $49.00) on shares of Pinterest in a research note on Wednesday, November 5th. Finally, Stifel Nicolaus boosted their price objective on Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average price target of $39.55.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares in the company, valued at $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. This represents a 19.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 611,050 shares of company stock valued at $21,260,379. Company 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.