Pinterest, Inc. (NYSE:PINS) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp reduced its holdings in Pinterest, Inc. (NYSE:PINS) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,114,935 shares of the company’s stock after selling 16,728 shares during the quarter. Pinterest makes up 1.7% of AMI Asset Management Corp’s portfolio, making the stock its 27th biggest holding. AMI Asset Management Corp owned approximately 0.16% of Pinterest worth $32,333,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PINS. Perpetual Ltd lifted its holdings in shares of Pinterest by 25.7% during the 4th quarter. Perpetual Ltd now owns 44,026 shares of the company’s stock valued at $1,277,000 after acquiring an additional 8,996 shares in the last quarter. Diversify Advisory Services LLC raised its position in Pinterest by 211.3% in the fourth quarter. Diversify Advisory Services LLC now owns 66,106 shares of the company’s stock valued at $2,027,000 after purchasing an additional 44,869 shares during the period. Merit Financial Group LLC acquired a new position in shares of Pinterest during the fourth quarter worth about $363,000. Avanza Fonder AB acquired a new stake in Pinterest in the fourth quarter valued at approximately $2,389,000. Finally, Empirical Asset Management LLC acquired a new position in shares of Pinterest during the fourth quarter worth $693,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock worth $589,131 over the last quarter. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, January 10th. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Morgan Stanley upped their target price on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Raymond James reduced their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.70.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $30.50 on Tuesday. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The company has a market cap of $20.61 billion, a PE ratio of 101.65, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The firm has a 50 day simple moving average of $30.41 and a 200 day simple moving average of $32.24.

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.