Andra AP fonden Buys 49,200 Shares of Pinterest, Inc. $PINS

Andra AP fonden grew its stake in Pinterest, Inc. (NYSE:PINS) by 5.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,000,356 shares of the company’s stock after purchasing an additional 49,200 shares during the quarter. Andra AP fonden owned about 0.15% of Pinterest worth $35,873,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PINS. Amundi boosted its stake in shares of Pinterest by 618.9% during the 1st quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after purchasing an additional 12,271,958 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Pinterest by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after buying an additional 6,460,143 shares during the period. Swedbank AB boosted its position in Pinterest by 344.0% during the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock valued at $181,024,000 after acquiring an additional 4,524,433 shares in the last quarter. Pacer Advisors Inc. boosted its position in Pinterest by 4,673.9% during the 1st quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company’s stock valued at $78,484,000 after acquiring an additional 2,478,708 shares in the last quarter. Finally, Congress Asset Management Co. purchased a new position in shares of Pinterest during the 2nd quarter worth approximately $82,516,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PINS has been the subject of a number of research analyst reports. Mizuho assumed coverage on Pinterest in a research note on Monday, September 29th. They issued an “outperform” rating and a $50.00 target price for the company. Weiss Ratings assumed coverage on Pinterest in a report on Saturday, November 1st. They issued a “hold (c+)” rating for the company. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group reduced their target price on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets decreased their price target on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.23.

Pinterest Price Performance

PINS opened at $25.75 on Thursday. The firm has a market cap of $17.51 billion, a PE ratio of 8.94, a P/E/G ratio of 1.69 and a beta of 0.96. The stock has a 50-day moving average price of $33.98 and a 200-day moving average price of $33.82. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The company had revenue of $665.93 million for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.23%. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity

In related news, CAO Andrea Acosta sold 3,759 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the sale, the chief accounting officer owned 157,402 shares of the company’s stock, valued at $5,502,773.92. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the completion of the transaction, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 640,236 shares of company stock worth $22,878,326. Corporate insiders own 7.06% of the company’s stock.

About Pinterest

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.