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

Handelsbanken Fonder AB lowered its position in shares of Pinterest, Inc. (NYSE:PINS) by 19.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 226,381 shares of the company’s stock after selling 54,775 shares during the quarter. Handelsbanken Fonder AB’s holdings in Pinterest were worth $8,385,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Venture Visionary Partners LLC increased its stake in shares of Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after acquiring an additional 324 shares in the last quarter. Washington Trust Advisors Inc. increased its stake in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Pinterest by 0.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after acquiring an additional 348 shares in the last quarter. Allworth Financial LP increased its stake in shares of Pinterest by 17.7% in the 4th quarter. Allworth Financial LP now owns 2,856 shares of the company’s stock worth $106,000 after acquiring an additional 430 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Pinterest by 4.8% in the 3rd quarter. Blair William & Co. IL now owns 10,139 shares of the company’s stock worth $274,000 after acquiring an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PINS. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Pinterest in a research note on Friday, February 9th. Roth Mkm raised their price objective on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Susquehanna raised their price objective on shares of Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Piper Sandler restated an “overweight” rating and set a $48.00 price objective on shares of Pinterest in a research note on Tuesday, March 26th. Finally, Stifel Nicolaus raised their price objective on shares of Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.68.

Pinterest Trading Down 0.5 %

NYSE PINS opened at $32.85 on Thursday. The stock’s 50 day moving average is $34.68 and its 200 day moving average is $34.16. Pinterest, Inc. has a 12 month low of $20.60 and a 12 month high of $41.60. The stock has a market cap of $22.30 billion, a PE ratio of -547.41, a P/E/G ratio of 4.53 and a beta of 0.99.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The company had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. On average, analysts forecast that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the sale, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the sale, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the sale, the director now directly owns 74,215 shares in the company, valued at approximately $2,789,741.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,471 shares of company stock valued at $6,525,231. Corporate insiders own 6.85% of the company’s stock.

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.