Handelsbanken Fonder AB Increases Stock Holdings in Pinterest, Inc. $PINS

Handelsbanken Fonder AB boosted its position in Pinterest, Inc. (NYSE:PINS) by 22.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 196,343 shares of the company’s stock after purchasing an additional 36,064 shares during the period. Handelsbanken Fonder AB’s holdings in Pinterest were worth $5,083,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in Pinterest by 30.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock worth $33,333,000 after purchasing an additional 241,527 shares during the last quarter. Yousif Capital Management LLC boosted its position in Pinterest by 2,298.3% in the fourth quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock worth $4,701,000 after purchasing an additional 177,449 shares during the last quarter. Peak Retirement Planning Inc. purchased a new position in Pinterest in the third quarter worth about $1,850,000. Cullen Frost Bankers Inc. boosted its position in Pinterest by 50,133.2% in the third quarter. Cullen Frost Bankers Inc. now owns 255,687 shares of the company’s stock worth $8,225,000 after purchasing an additional 255,178 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Pinterest by 114.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 231,964 shares of the company’s stock worth $7,462,000 after purchasing an additional 123,900 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting 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

Analyst Ratings Changes

Several research analysts have issued reports on PINS shares. Cantor Fitzgerald set a $18.00 target price on Pinterest in a research report on Friday, February 13th. Zacks Research raised Pinterest from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Loop Capital downgraded Pinterest from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $45.00 to $18.00 in a research note on Friday, February 13th. KeyCorp decreased their price objective on Pinterest from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. Finally, Stifel Nicolaus raised their price objective on Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.40.

Insider Transactions at Pinterest

In related 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 transaction of $42,000.00. Following the sale, the director owned 27,450 shares of the company’s stock, valued at approximately $549,000. This trade represents 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.09% of the company’s stock.

Pinterest Stock Up 2.1%

NYSE PINS opened at $19.25 on Friday. The stock’s 50-day moving average price is $19.24 and its 200-day moving average price is $22.29. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93. The company has a market capitalization of $10.78 billion, a P/E ratio of 40.10, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93.

Pinterest (NYSE:PINS) last issued its earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. On average, equities research analysts predict that Pinterest, Inc. will post 0.68 earnings per share for the current year.

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.