Nordea Investment Management AB Grows Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Nordea Investment Management AB lifted its position in Pinterest, Inc. (NYSE:PINS) by 122.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,807,269 shares of the company’s stock after buying an additional 2,093,248 shares during the period. Nordea Investment Management AB owned approximately 0.56% of Pinterest worth $111,515,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Everence Capital Management Inc. acquired a new position in shares of Pinterest during the fourth quarter worth $520,000. GAMMA Investing LLC increased its position in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Pinterest in the third quarter valued at about $87,000. Sanctuary Advisors LLC boosted its holdings in Pinterest by 42.2% in the third quarter. Sanctuary Advisors LLC now owns 124,353 shares of the company’s stock worth $3,733,000 after acquiring an additional 36,925 shares in the last quarter. Finally, TCW Group Inc. grew its stake in shares of Pinterest by 14.6% during the third quarter. TCW Group Inc. now owns 690,082 shares of the company’s stock worth $22,338,000 after acquiring an additional 88,086 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Trading Up 4.9 %

Shares of PINS opened at $32.46 on Tuesday. The firm has a market cap of $21.94 billion, a P/E ratio of 108.20, a PEG ratio of 2.17 and a beta of 1.04. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock’s 50 day moving average is $30.71 and its two-hundred day moving average is $33.16.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Rosenblatt Securities lowered their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Oppenheimer cut their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. KeyCorp lowered their price target on Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, TD Cowen began coverage on Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.46.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the transaction, the director now owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $592,685 in the last quarter. Corporate insiders own 7.11% of the company’s stock.

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.