Swedbank AB Buys 10,703 Shares of Pinterest, Inc. (NYSE:PINS)

Swedbank AB increased its stake in shares of Pinterest, Inc. (NYSE:PINSFree Report) by 21.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,539 shares of the company’s stock after purchasing an additional 10,703 shares during the quarter. Swedbank AB’s holdings in Pinterest were worth $1,927,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Ontario Teachers Pension Plan Board boosted its stake in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after acquiring an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. bought a new position in Pinterest in the second quarter valued at approximately $98,655,000. Ninety One UK Ltd boosted its stake in Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after acquiring an additional 1,679,348 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after acquiring an additional 1,356,459 shares during the last quarter. Finally, AMI Asset Management Corp bought a new position in Pinterest in the second quarter valued at approximately $57,569,000. 88.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,580 shares of company stock worth $1,063,499. Insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PINS. Robert W. Baird reduced their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Rosenblatt Securities reduced their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Wedbush upgraded shares of Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, Stifel Nicolaus cut their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.63.

View Our Latest Research Report on Pinterest

Pinterest Trading Down 2.2 %

Shares of PINS stock opened at $30.33 on Thursday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The firm’s fifty day moving average price is $31.81 and its two-hundred day moving average price is $35.56. The firm has a market capitalization of $20.50 billion, a P/E ratio of 101.10, a PEG ratio of 2.19 and a beta of 1.02.

About Pinterest

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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