Handelsbanken Fonder AB Acquires 36,064 Shares of Pinterest, Inc. $PINS

Handelsbanken Fonder AB boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 22.5% during the 4th quarter, Holdings Channel reports. The firm owned 196,343 shares of the company’s stock after buying an additional 36,064 shares during the period. Handelsbanken Fonder AB’s holdings in Pinterest were worth $5,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Pinterest by 30.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock valued at $33,333,000 after purchasing an additional 241,527 shares during the period. Yousif Capital Management LLC raised its stake in Pinterest by 2,298.3% during the 4th quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock valued at $4,701,000 after purchasing an additional 177,449 shares during the period. Peak Retirement Planning Inc. bought a new stake in Pinterest in the 3rd quarter worth approximately $1,850,000. Cullen Frost Bankers Inc. increased its stake in Pinterest by 50,133.2% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 255,687 shares of the company’s stock worth $8,225,000 after acquiring an additional 255,178 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Pinterest by 114.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 231,964 shares of the company’s stock worth $7,462,000 after acquiring an additional 123,900 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PINS shares. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Pinterest in a research note on Friday, February 13th. Bank of America reaffirmed a “neutral” rating and issued a $19.00 price objective (down from $39.00) on shares of Pinterest in a research note on Friday, February 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 price objective (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. Barclays lifted their price objective on Pinterest from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Finally, Morgan Stanley lifted their price objective on Pinterest from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pinterest has an average rating of “Hold” and a consensus price target of $27.40.

Pinterest Price Performance

Shares of Pinterest stock opened at $19.25 on Friday. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of 40.10, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a 50 day moving average price of $19.24 and a 200-day moving average price of $22.29. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93.

Pinterest (NYSE:PINS) last announced its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Equities analysts expect that Pinterest, Inc. will post 0.68 EPS for the current year.

Trending Headlines about Pinterest

Here are the key news stories impacting Pinterest this week:

• Negative Sentiment: Several firms are actively soliciting Pinterest investors to join or lead a securities fraud class action, highlighting ongoing legal risk and potential distraction for management. Article Title
• Negative Sentiment: The lawsuits allege investor harm during the class period, which can weigh on sentiment by increasing uncertainty around potential damages, legal expenses, and reputational fallout. Article Title
• Neutral Sentiment: One article also notes broader market weakness tied to inflation and rising bond yields, which may have added to pressure on growth stocks like Pinterest. Article Title

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the transaction, the director owned 27,450 shares in the company, valued at approximately $549,000. The trade was a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.09% of the company’s stock.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.