Handelsbanken Fonder AB Trims Stake in Pinterest, Inc. (NYSE:PINS)

Handelsbanken Fonder AB lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 19.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 226,381 shares of the company’s stock after selling 54,775 shares during the quarter. Handelsbanken Fonder AB’s holdings in Pinterest were worth $8,385,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in shares of Pinterest by 152.3% during the 4th quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock worth $53,507,000 after purchasing an additional 872,016 shares during the period. Nordea Investment Management AB boosted its holdings in Pinterest by 57.9% in the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after acquiring an additional 323,547 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Pinterest by 3,402.0% in the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after acquiring an additional 77,974 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Pinterest by 53.1% in the third quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock valued at $84,826,000 after acquiring an additional 1,089,299 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Pinterest by 55.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after acquiring an additional 62,117 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling at Pinterest

In other news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the transaction, the director now directly owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now directly owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock valued at $6,525,231 in the last three months. 6.85% of the stock is currently owned by company insiders.

Pinterest Stock Performance

NYSE PINS opened at $32.85 on Thursday. The stock has a market capitalization of $22.30 billion, a P/E ratio of -547.41, a P/E/G ratio of 4.53 and a beta of 0.99. Pinterest, Inc. has a 1 year low of $20.60 and a 1 year high of $41.60. The business’s fifty day moving average is $34.68 and its two-hundred day moving average is $34.16.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The company had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. On average, research analysts forecast that Pinterest, Inc. will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

PINS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Pinterest from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Pinterest in a report on Friday, February 9th. KeyCorp reduced their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday. BMO Capital Markets started coverage on Pinterest in a report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Roth Mkm raised their price objective on Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.