Pinterest, Inc. (NYSE:PINS) Shares Sold by Avanza Fonder AB

Avanza Fonder AB cut its holdings in Pinterest, Inc. (NYSE:PINS) by 0.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 81,727 shares of the company’s stock after selling 646 shares during the period. Avanza Fonder AB’s holdings in Pinterest were worth $2,565,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the period. FMR LLC lifted its position in Pinterest by 2.6% in the 4th quarter. FMR LLC now owns 12,599,356 shares of the company’s stock valued at $365,381,000 after purchasing an additional 316,633 shares during the last quarter. Norges Bank bought a new stake in Pinterest in the 4th quarter valued at about $358,205,000. Finally, Marshall Wace LLP boosted its stake in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after purchasing an additional 6,129,985 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Up 2.8%

PINS opened at $35.08 on Wednesday. The firm has a market cap of $23.79 billion, a PE ratio of 13.04, a P/E/G ratio of 1.95 and a beta of 0.91. The business has a fifty day simple moving average of $28.94 and a 200-day simple moving average of $31.43. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 EPS. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on PINS shares. Morgan Stanley raised their price target on shares of Pinterest from $28.00 to $37.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Wells Fargo & Company lowered their target price on Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Raymond James lowered Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday, April 7th. Piper Sandler decreased their price target on Pinterest from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Wolfe Research upgraded shares of Pinterest from a “peer perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Thursday, May 15th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $40.42.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the sale, the director now directly owns 6,274 shares in the company, valued at approximately $195,497.84. This trade represents a 94.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the transaction, the director now directly owns 26,786 shares in the company, valued at approximately $723,222. This trade represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,075,021 shares of company stock worth $35,038,914 over the last ninety days. 7.06% of the stock is currently owned by company insiders.

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.