Primecap Management Co. CA Has $116.79 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Primecap Management Co. CA lowered its holdings in Pinterest, Inc. (NYSE:PINS) by 0.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,027,300 shares of the company’s stock after selling 10,000 shares during the quarter. Primecap Management Co. CA’s holdings in Pinterest were worth $116,792,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its position in Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after acquiring an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares during the period. Ethos Financial Group LLC raised its position in shares of Pinterest by 3.1% during the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock valued at $342,000 after buying an additional 350 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after buying an additional 372 shares during the period. Finally, Commerce Bank grew its position in Pinterest by 3.3% during the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after buying an additional 378 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

PINS stock opened at $31.25 on Wednesday. The stock has a market capitalization of $21.19 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a 50 day moving average price of $34.32 and a 200 day moving average price of $32.28. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,729 shares of company stock valued at $3,617,950. 7.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on PINS shares. Morgan Stanley upped their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Cantor Fitzgerald raised their target price on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, February 7th. The Goldman Sachs Group raised their price objective on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.30.

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.