Pinterest, Inc. $PINS Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB raised its position in Pinterest, Inc. (NYSE:PINS) by 14.8% during the third quarter, Holdings Channel.com reports. The firm owned 5,021,548 shares of the company’s stock after buying an additional 647,251 shares during the period. Nordea Investment Management AB’s holdings in Pinterest were worth $162,849,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PINS. Renaissance Group LLC raised its position in shares of Pinterest by 4.5% in the second quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock valued at $36,548,000 after buying an additional 43,541 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Pinterest by 243.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after acquiring an additional 49,204 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Pinterest by 15.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock valued at $26,600,000 after acquiring an additional 110,089 shares during the last quarter. Norges Bank purchased a new position in shares of Pinterest during the 2nd quarter worth $477,853,000. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Pinterest by 8.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock worth $14,781,000 after purchasing an additional 30,500 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the sale, the insider directly owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. This represents a 19.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Malik Ducard sold 2,293 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $26.18, for a total value of $60,030.74. Following the completion of the sale, the insider owned 697,480 shares of the company’s stock, valued at approximately $18,260,026.40. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 105,161 shares of company stock valued at $2,796,466 over the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Pinterest Price Performance

NYSE PINS opened at $27.56 on Wednesday. The firm has a market capitalization of $18.62 billion, a P/E ratio of 9.57, a P/E/G ratio of 1.22 and a beta of 0.91. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The business’s 50-day simple moving average is $26.37 and its 200-day simple moving average is $32.15.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PINS. Wells Fargo & Company lowered their price objective on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Wolfe Research set a $33.00 price target on Pinterest and gave the company an “outperform” rating in a report on Monday, January 5th. Guggenheim dropped their price objective on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Sanford C. Bernstein decreased their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Finally, Citigroup restated a “buy” rating on shares of Pinterest in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.93.

Pinterest Company Profile

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.