Pinterest, Inc. (NYSE:PINS) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its position in shares of Pinterest, Inc. (NYSE:PINS) by 17.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,663,225 shares of the company’s stock after selling 4,047,759 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.88% of Pinterest worth $681,725,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. BOKF NA raised its stake in Pinterest by 44.1% during the first quarter. BOKF NA now owns 148,429 shares of the company’s stock worth $5,243,000 after purchasing an additional 45,413 shares during the period. Magnetar Financial LLC purchased a new stake in Pinterest during the 1st quarter worth approximately $983,000. Lazard Asset Management LLC increased its stake in Pinterest by 61.5% during the 1st quarter. Lazard Asset Management LLC now owns 299,460 shares of the company’s stock worth $10,381,000 after buying an additional 114,091 shares during the period. Quadrature Capital Ltd grew its holdings in Pinterest by 215.9% during the 1st quarter. Quadrature Capital Ltd now owns 598,576 shares of the company’s stock worth $20,759,000 after acquiring an additional 409,077 shares in the last quarter. Finally, Capital International Investors grew its holdings in Pinterest by 1.2% during the 1st quarter. Capital International Investors now owns 3,923,703 shares of the company’s stock worth $136,035,000 after acquiring an additional 47,290 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the completion of the transaction, the insider now directly owns 307,256 shares in the company, valued at $12,726,543.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the sale, the director now directly owns 29,712 shares of the company’s stock, valued at $1,255,332. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the sale, the insider now directly owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,250 shares of company stock worth $2,191,304. 7.11% of the stock is owned by corporate insiders.

Pinterest Price Performance

Shares of Pinterest stock traded up $0.41 during trading hours on Monday, hitting $37.96. The company’s stock had a trading volume of 3,492,107 shares, compared to its average volume of 9,155,086. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The stock has a 50 day moving average of $42.30 and a 200 day moving average of $38.53. The company has a market capitalization of $25.93 billion, a PE ratio of 181.10, a price-to-earnings-growth ratio of 3.66 and a beta of 0.97.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. The company had revenue of $739.98 million during the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Equities analysts expect that Pinterest, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Roth Mkm increased their price target on shares of Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Stifel Nicolaus increased their price objective on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. KeyCorp decreased their price target on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company increased their price objective on shares of Pinterest from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. Nine equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.60.

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.