Handelsbanken Fonder AB Grows Stock Position in Pinterest, Inc. (NYSE:PINS)

Handelsbanken Fonder AB lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,341 shares of the company’s stock after buying an additional 4,361 shares during the period. Handelsbanken Fonder AB’s holdings in Pinterest were worth $4,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after purchasing an additional 12,986,310 shares during the last quarter. Norges Bank purchased a new stake in Pinterest during the 4th quarter worth approximately $358,205,000. Marshall Wace LLP raised its stake in Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after purchasing an additional 6,129,985 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after buying an additional 4,527,902 shares in the last quarter. Finally, Contour Asset Management LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at approximately $86,330,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $34.81, for a total value of $3,553,509.23. Following the completion of the sale, the director now directly owns 8,414 shares of the company’s stock, valued at approximately $292,891.34. The trade was a 92.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $31.86, for a total value of $119,761.74. Following the transaction, the chief accounting officer now owns 171,373 shares in the company, valued at $5,459,943.78. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,177,104 shares of company stock worth $38,592,423. 7.06% of the stock is owned by corporate insiders.

Pinterest Trading Down 0.7%

NYSE PINS opened at $33.78 on Friday. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $45.19. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.95 and a beta of 0.91. The business’s 50 day moving average is $29.29 and its two-hundred day moving average is $31.48.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share. Equities analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup lifted their target price on shares of Pinterest from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Wolfe Research raised shares of Pinterest from a “peer perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Thursday, May 15th. TD Cowen lowered their target price on Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Benchmark lowered their price target on shares of Pinterest from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price objective on Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.42.

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.