Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.71 Million Stock Holdings in Pinterest, Inc. $PINS

Key Points

• Fjarde AP Fonden increased its Pinterest stake by 44.9% in the first quarter, ending with 202,390 shares valued at about $3.71 million.
• Pinterest has strong institutional ownership overall, with hedge funds and other investors holding 88.81% of the company’s stock.
• The company recently beat earnings expectations, reporting $0.27 EPS on $1.01 billion in revenue, while analysts currently have a consensus rating of Hold with an average target price of $27.47.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 44.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,390 shares of the company's stock after buying an additional 62,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Pinterest were worth $3,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Pinterest in the 4th quarter worth about $357,945,000. Davis Selected Advisers acquired a new position in shares of Pinterest during the 3rd quarter worth approximately $253,887,000. State Street Corp increased its holdings in shares of Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company's stock worth $556,432,000 after purchasing an additional 7,412,213 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company's stock worth $694,082,000 after purchasing an additional 6,258,628 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 15.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company's stock valued at $719,994,000 after buying an additional 3,669,476 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Analyst Ratings Changes

PINS has been the subject of several recent research reports. Oppenheimer boosted their price target on Pinterest from $24.00 to $30.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Piper Sandler reaffirmed a "neutral" rating and issued a $26.00 price objective (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Royal Bank Of Canada upped their target price on Pinterest from $17.00 to $23.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 5th. Wall Street Zen cut Pinterest from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Citigroup boosted their price target on Pinterest from $19.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $27.47.

Pinterest Stock Up 0.7%

NYSE PINS opened at $22.23 on Tuesday. The business has a fifty day moving average price of $20.55 and a two-hundred day moving average price of $20.97. 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 fifty-two week low of $13.84 and a fifty-two week high of $39.93. The stock has a market capitalization of $12.46 billion, a PE ratio of 46.32, a PEG ratio of 1.24 and a beta of 0.89.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. During the same quarter last year, the company posted $0.23 EPS. The company's revenue for the quarter was up 17.8% compared to the same quarter last year. Equities analysts expect that Pinterest, Inc. will post 0.66 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total value of $42,000.00. Following the transaction, the director owned 27,450 shares in the company, valued at $549,000. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of the business's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $279,187.20. Following the transaction, the insider directly owned 691,840 shares of the company's stock, valued at approximately $13,594,656. The trade was a 2.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 279,070 shares of company stock valued at $5,817,283 over the last ninety days. 8.09% of the stock is owned by corporate insiders.

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.

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