Price T Rowe Associates Inc. MD Sells 4,047,759 Shares of Pinterest, Inc. (NYSE:PINS)

Price T Rowe Associates Inc. MD reduced its stake in Pinterest, Inc. (NYSE:PINS) by 17.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,663,225 shares of the company’s stock after selling 4,047,759 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Pinterest were worth $681,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Mutual Advisors LLC bought a new position in Pinterest during the 4th quarter worth about $241,000. Raymond James & Associates increased its holdings in Pinterest by 54.2% during the fourth quarter. Raymond James & Associates now owns 752,594 shares of the company’s stock valued at $27,876,000 after buying an additional 264,582 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Pinterest by 55.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after buying an additional 62,117 shares during the period. Washington Trust Advisors Inc. raised its stake in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after acquiring an additional 557 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PINS shares. Sanford C. Bernstein boosted their price target on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group increased their price target on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Roth Mkm lifted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. BMO Capital Markets increased their target price on shares of Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Citigroup raised their target price on shares of Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and a consensus target price of $42.60.

Pinterest Stock Performance

NYSE PINS traded up $0.41 on Monday, reaching $37.96. 3,492,107 shares of the company’s stock traded hands, compared to its average volume of 9,155,086. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 181.10, a P/E/G ratio of 3.66 and a beta of 0.97. The stock has a 50 day moving average price of $42.30 and a 200-day moving average price of $38.53.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’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 sale, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the transaction, the director now directly owns 29,712 shares in the company, valued at approximately $1,255,332. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,250 shares of company stock valued at $2,191,304. 7.11% of the stock is owned by company insiders.

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.