Swedbank AB Increases Position in Pinterest, Inc. (NYSE:PINS)

Swedbank AB lifted its position in shares of Pinterest, Inc. (NYSE:PINS) by 21.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,539 shares of the company’s stock after purchasing an additional 10,703 shares during the period. Swedbank AB’s holdings in Pinterest were worth $1,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PINS. Leibman Financial Services Inc. lifted its holdings in Pinterest by 0.9% during the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after buying an additional 266 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after purchasing an additional 319 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Pinterest by 0.7% in the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after purchasing an additional 372 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its holdings in Pinterest by 1.6% in the second quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock valued at $1,022,000 after purchasing an additional 373 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Pinterest Price Performance

Shares of PINS stock opened at $33.17 on Friday. The business’s fifty day moving average price is $31.50 and its 200 day moving average price is $36.48. The firm has a market capitalization of $22.76 billion, a PE ratio of 122.86, a P/E/G ratio of 2.62 and a beta of 1.01. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the prior year, the company posted ($0.04) EPS. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. Equities research analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. KeyCorp boosted their price objective on shares of Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pinterest in a report on Friday, September 13th. Stifel Nicolaus cut their target price on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company decreased their target price on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Robert W. Baird cut their price target on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.32.

Pinterest 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.