Forsta AP Fonden Has $6.30 Million Stake in Pinterest, Inc. $PINS

Forsta AP Fonden lowered its position in Pinterest, Inc. (NYSE:PINS) by 32.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,600 shares of the company’s stock after selling 82,500 shares during the period. Forsta AP Fonden’s holdings in Pinterest were worth $6,297,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Pinterest by 2.2% in the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock worth $1,798,270,000 after purchasing an additional 1,263,863 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Pinterest by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after buying an additional 6,460,143 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Pinterest by 13.7% during the first quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock worth $480,452,000 after acquiring an additional 1,862,654 shares during the last quarter. Amundi increased its position in Pinterest by 618.9% in the first quarter. Amundi now owns 14,254,741 shares of the company’s stock worth $441,897,000 after purchasing an additional 12,271,958 shares during the period. Finally, Swedbank AB raised its holdings in Pinterest by 27.3% during the 2nd quarter. Swedbank AB now owns 7,430,885 shares of the company’s stock worth $266,472,000 after purchasing an additional 1,591,400 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Performance

Shares of PINS stock opened at $26.62 on Friday. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $40.90. The company’s 50 day moving average price is $32.57 and its two-hundred day moving average price is $33.83. The company has a market capitalization of $17.98 billion, a P/E ratio of 9.24, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The company had revenue of $665.93 million during the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. Analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total value of $40,250.00. Following the sale, the director owned 30,600 shares of the company’s stock, valued at $1,071,000. The trade was a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total transaction of $131,414.64. Following the transaction, the chief accounting officer owned 157,402 shares of the company’s stock, valued at $5,502,773.92. The trade was a 2.33% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 714,283 shares of company stock worth $24,869,450. Corporate insiders own 7.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PINS. Guggenheim reduced their target price on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Morgan Stanley raised shares of Pinterest from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $37.00 to $45.00 in a report on Monday, July 21st. BMO Capital Markets reduced their price target on Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. The Goldman Sachs Group decreased their price objective on Pinterest from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $30.00 target price (down previously from $49.00) on shares of Pinterest in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $39.55.

Pinterest 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.