Primecap Management Co. CA Has $130.69 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Primecap Management Co. CA reduced its stake in Pinterest, Inc. (NYSE:PINS) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,037,300 shares of the company’s stock after selling 46,750 shares during the quarter. Primecap Management Co. CA owned about 0.59% of Pinterest worth $130,687,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest in the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest in the second quarter valued at $26,000. Hexagon Capital Partners LLC boosted its position in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC grew its holdings in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Pinterest in the 2nd quarter worth about $35,000. 88.81% of the stock is currently owned by institutional investors.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,580 shares of company stock worth $1,063,499. 7.11% of the stock is owned by company insiders.

Pinterest Price Performance

Shares of PINS stock opened at $29.31 on Friday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company’s fifty day simple moving average is $31.71 and its two-hundred day simple moving average is $35.97. The stock has a market capitalization of $19.81 billion, a price-to-earnings ratio of 97.70, a PEG ratio of 2.13 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PINS. Roth Mkm cut their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Stifel Nicolaus cut their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company decreased their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird cut their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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.