Tredje AP fonden Has $99.24 Million Position in Pinterest, Inc. $PINS

Tredje AP fonden raised its stake in shares of Pinterest, Inc. (NYSE:PINS) by 237.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,767,535 shares of the company’s stock after purchasing an additional 1,946,827 shares during the quarter. Tredje AP fonden’s holdings in Pinterest were worth $99,244,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Amundi grew its holdings in 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 period. Price T Rowe Associates Inc. MD grew its holdings in Pinterest by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after purchasing an additional 6,460,143 shares during the period. Swedbank AB grew its holdings in shares of Pinterest by 344.0% in the 1st 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 during the period. Pacer Advisors Inc. grew its holdings in shares of Pinterest by 4,673.9% in the 1st quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company’s stock valued at $78,484,000 after buying an additional 2,478,708 shares during the period. Finally, Congress Asset Management Co. acquired a new position in shares of Pinterest in the 2nd quarter valued at $82,516,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Price Performance

Pinterest stock opened at $33.08 on Friday. The firm has a 50-day moving average of $34.29 and a 200-day moving average of $33.70. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90. The company has a market cap of $22.49 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.44 and a beta of 0.81.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The firm had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total transaction of $40,250.00. Following the completion of the sale, the director owned 30,600 shares of the company’s stock, valued at $1,071,000. This trade represents a 3.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 640,236 shares of company stock valued at $22,878,326. Company insiders own 7.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wedbush boosted their price target on shares of Pinterest from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Barclays boosted their target price on Pinterest from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. KeyCorp boosted their price objective on Pinterest from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Citigroup reiterated a “buy” rating and issued a $50.00 price objective (up from $44.00) on shares of Pinterest in a research report on Friday, August 8th. Finally, Cowen reiterated a “buy” rating on shares of Pinterest in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

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.