Avanza Fonder AB Acquires New Stake in Pinterest, Inc. (NYSE:PINS)

Avanza Fonder AB acquired a new stake in Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 82,373 shares of the company’s stock, valued at approximately $2,389,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in Pinterest by 9.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 549,409 shares of the company’s stock worth $24,212,000 after purchasing an additional 48,276 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Pinterest by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,489,313 shares of the company’s stock worth $65,635,000 after buying an additional 184,639 shares in the last quarter. Wealth Alliance acquired a new stake in Pinterest in the second quarter valued at approximately $210,000. Vanguard Personalized Indexing Management LLC lifted its stake in Pinterest by 7.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 55,990 shares of the company’s stock worth $2,445,000 after acquiring an additional 3,904 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Pinterest by 28.8% during the 2nd quarter. Hsbc Holdings PLC now owns 479,080 shares of the company’s stock worth $21,113,000 after acquiring an additional 107,096 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Roth Mkm decreased their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Rosenblatt Securities lowered their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, January 10th. Nine research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.70.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock valued at $589,131 over the last quarter. Company insiders own 7.11% of the company’s stock.

Pinterest Trading Up 0.3 %

NYSE PINS opened at $30.50 on Friday. The business’s 50 day moving average is $30.41 and its two-hundred day moving average is $32.41. The stock has a market capitalization of $20.61 billion, a price-to-earnings ratio of 101.65, a PEG ratio of 1.52 and a beta of 1.04. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

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.