AMI Asset Management Corp Has $32.33 Million Stake in Pinterest, Inc. (NYSE:PINS)

AMI Asset Management Corp trimmed its stake in Pinterest, Inc. (NYSE:PINSFree Report) by 1.5% during the fourth quarter, Holdings Channel reports. The fund owned 1,114,935 shares of the company’s stock after selling 16,728 shares during the quarter. Pinterest accounts for 1.7% of AMI Asset Management Corp’s holdings, making the stock its 27th largest position. AMI Asset Management Corp’s holdings in Pinterest were worth $32,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after purchasing an additional 156,748 shares during the last quarter. Geode Capital Management LLC grew its stake in Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after buying an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Pinterest during the third quarter valued at about $153,829,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on PINS shares. Robert W. Baird dropped their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Piper Sandler downgraded shares of Pinterest from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $41.00 to $36.00 in a research note on Tuesday, December 10th. Finally, UBS Group cut their target price on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.70.

Get Our Latest Report on PINS

Pinterest Price Performance

Shares of PINS opened at $30.50 on Tuesday. The company has a market capitalization of $20.61 billion, a P/E ratio of 101.65, a PEG ratio of 1.55 and a beta of 1.04. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The business’s 50 day simple moving average is $30.41 and its 200-day simple moving average is $32.24.

Pinterest Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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