Swedbank AB Cuts Holdings in Pinterest, Inc. $PINS

Swedbank AB decreased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 51.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,081,736 shares of the company’s stock after selling 4,360,250 shares during the quarter. Swedbank AB’s holdings in Pinterest were worth $105,676,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Elevated Capital Advisors LLC purchased a new stake in Pinterest during the 4th quarter worth about $26,000. Atlantic Union Bankshares Corp increased its holdings in Pinterest by 3,839.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after purchasing an additional 883 shares during the period. Addison Advisors LLC increased its holdings in Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares during the period. Garner Asset Management Corp purchased a new stake in Pinterest during the 4th quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Pinterest by 46.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock worth $42,000 after purchasing an additional 419 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 price target on shares of Pinterest in a report on Tuesday, May 5th. Wells Fargo & Company upped their price target on Pinterest from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group restated a “buy” rating and set a $28.00 price target on shares of Pinterest in a report on Tuesday, May 5th. Weiss Ratings downgraded Pinterest from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 2nd. Finally, Zacks Research upgraded Pinterest from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.40.

Pinterest Trading Up 2.1%

PINS opened at $19.25 on Friday. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The company has a market cap of $10.78 billion, a P/E ratio of 40.10, a PEG ratio of 1.04 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 business’s 50-day simple moving average is $19.24 and its 200-day simple moving average is $22.29.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. As a group, equities research analysts expect that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 2,100 shares of the firm’s 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 transaction, the director owned 27,450 shares in the company, valued at $549,000. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.09% of the stock is owned by corporate 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.