Livforsakringsbolaget Skandia Omsesidigt Purchases 53,100 Shares of Pinterest, Inc. $PINS

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 20.1% during the third quarter, Holdings Channel reports. The institutional investor owned 317,100 shares of the company’s stock after purchasing an additional 53,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Pinterest were worth $10,195,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased 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 in the last quarter. Peak Retirement Planning Inc. bought a new position in shares of Pinterest in the third quarter valued at $1,850,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Pinterest by 15.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock valued at $26,600,000 after buying an additional 110,089 shares in the last quarter. Renaissance Group LLC grew its holdings in shares of Pinterest by 4.5% during 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. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Pinterest by 50,133.2% during the third quarter. Cullen Frost Bankers Inc. now owns 255,687 shares of the company’s stock valued at $8,225,000 after buying an additional 255,178 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PINS shares. UBS Group set a $26.00 target price on shares of Pinterest in a report on Friday, February 13th. Guggenheim cut their price target on Pinterest from $38.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Wedbush decreased their price objective on Pinterest from $30.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Evercore set a $25.00 price objective on Pinterest and gave the stock an “in-line” rating in a research note on Friday, February 13th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $23.00 target price on shares of Pinterest in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nineteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pinterest currently has a consensus rating of “Hold” and an average target price of $25.87.

Insider Buying and Selling

In related news, insider Malik Ducard sold 6,000 shares of Pinterest stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $155,160.00. Following the sale, the insider directly owned 699,773 shares in the company, valued at approximately $18,096,129.78. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the transaction, the chief financial officer directly owned 540,358 shares in the company, valued at approximately $13,973,657.88. This represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,457 shares of company stock worth $876,925 in the last 90 days. Company insiders own 7.11% of the company’s stock.

Pinterest Price Performance

PINS opened at $18.58 on Wednesday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The firm has a market capitalization of $12.35 billion, a P/E ratio of 30.45, a PEG ratio of 1.21 and a beta of 0.93. The company’s 50-day moving average is $21.00 and its 200 day moving average is $26.99.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. On average, equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.