Pinterest, Inc. $PINS Stock Holdings Lifted by American Century Companies Inc.

American Century Companies Inc. grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 28.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,968,292 shares of the company’s stock after acquiring an additional 1,336,397 shares during the period. American Century Companies Inc. owned about 0.88% of Pinterest worth $214,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PINS. Amundi lifted its holdings in shares of Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after purchasing an additional 12,271,958 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Pinterest by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after buying an additional 6,460,143 shares during the period. Swedbank AB lifted its stake in Pinterest by 344.0% during the first quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock valued at $181,024,000 after buying an additional 4,524,433 shares in the last quarter. Congress Asset Management Co. purchased a new stake in Pinterest during the second quarter valued at about $82,516,000. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Pinterest in the second quarter worth about $71,221,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the transaction, the chief financial officer owned 312,422 shares in the company, valued at $10,887,906.70. This represents a 6.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 607,291 shares of company stock worth $21,128,964 in the last 90 days. 7.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PINS has been the subject of several recent analyst reports. Benchmark decreased their target price on Pinterest from $48.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Bank of America reduced their price objective on Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. BMO Capital Markets lowered their target price on Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. dropped their target price on Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Citigroup reissued a “buy” rating on shares of Pinterest in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.55.

Pinterest Price Performance

PINS opened at $24.93 on Monday. The company has a market capitalization of $16.84 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 1.51 and a beta of 0.96. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The business has a 50-day moving average of $31.51 and a 200-day moving average of $33.89.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. On average, equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.