Norges Bank Makes New Investment in Pinterest, Inc. $PINS

Norges Bank purchased a new position in Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,825,606 shares of the company’s stock, valued at approximately $357,945,000. Norges Bank owned approximately 2.05% of Pinterest as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Coyle Financial Counsel LLC lifted its holdings in shares of Pinterest by 5.9% in the 4th quarter. Coyle Financial Counsel LLC now owns 10,589 shares of the company’s stock valued at $274,000 after acquiring an additional 587 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Pinterest in the 4th quarter valued at about $1,185,000. Future Fund LLC lifted its holdings in shares of Pinterest by 29.1% in the 4th quarter. Future Fund LLC now owns 118,186 shares of the company’s stock valued at $3,060,000 after acquiring an additional 26,675 shares during the last quarter. National Pension Service lifted its holdings in shares of Pinterest by 39.2% in the 4th quarter. National Pension Service now owns 303,568 shares of the company’s stock valued at $7,859,000 after acquiring an additional 85,421 shares during the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of Pinterest by 111.9% in the 4th quarter. Rothschild Investment LLC now owns 14,550 shares of the company’s stock valued at $377,000 after acquiring an additional 7,682 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of PINS opened at $21.45 on Tuesday. The firm has a market capitalization of $12.02 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 1.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93. The company’s fifty day moving average price is $19.45 and its 200-day moving average price is $21.89.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts predict that Pinterest, Inc. will post 0.68 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the sale, the director owned 27,450 shares in the company, valued at approximately $549,000. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 4,200 shares of company stock valued at $84,000. 8.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PINS shares. Morgan Stanley raised their price objective on shares of Pinterest from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Bank of America reaffirmed a “neutral” rating and set a $19.00 price target (down from $39.00) on shares of Pinterest in a research note on Friday, February 13th. Evercore set a $27.00 price target on shares of Pinterest in a research note on Tuesday, May 5th. TD Cowen lifted their price target on shares of Pinterest from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Wedbush decreased their price target on shares of Pinterest from $30.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.40.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.