Swedbank AB Acquires 1,011,101 Shares of Pinterest, Inc. $PINS

Swedbank AB raised its holdings in Pinterest, Inc. (NYSE:PINS) by 13.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,441,986 shares of the company’s stock after buying an additional 1,011,101 shares during the period. Swedbank AB owned about 1.24% of Pinterest worth $271,579,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PINS. Snowden Capital Advisors LLC increased its holdings in shares of Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after acquiring an additional 296 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in Pinterest by 10.1% during the 2nd quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock valued at $115,000 after purchasing an additional 300 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after purchasing an additional 358 shares during the period. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Pinterest by 3.6% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after purchasing an additional 359 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC increased its holdings in shares of Pinterest by 5.8% in the second quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after purchasing an additional 361 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Trading Down 1.5%

Shares of Pinterest stock opened at $25.99 on Wednesday. The business has a 50-day moving average price of $28.39 and a two-hundred day moving average price of $33.03. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The company has a market cap of $17.56 billion, a P/E ratio of 9.02, a PEG ratio of 1.67 and a beta of 0.89.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. Equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Guggenheim lowered their target price on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Evercore ISI decreased their target price on shares of Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Benchmark reduced their price target on Pinterest from $48.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Wedbush downgraded Pinterest from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $34.00 to $30.00 in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.97.

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the sale, the insider owned 301,214 shares in the company, valued at $8,099,644.46. The trade was a 19.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.11% of the stock is currently owned by company insiders.

Pinterest 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.