Lansforsakringar Fondforvaltning AB publ Purchases New Position in Pinterest, Inc. (NYSE:PINS)

Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 193,388 shares of the company's stock, valued at approximately $5,608,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in shares of Pinterest during the 4th quarter worth about $28,000. Strategic Investment Solutions Inc. IL raised its stake in shares of Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock worth $44,000 after purchasing an additional 1,204 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock worth $50,000 after purchasing an additional 590 shares in the last quarter. Huntington National Bank raised its stake in shares of Pinterest by 484.1% during the 4th quarter. Huntington National Bank now owns 2,027 shares of the company's stock worth $59,000 after purchasing an additional 1,680 shares in the last quarter. Finally, CoreCap Advisors LLC raised its stake in shares of Pinterest by 98.5% during the 4th quarter. CoreCap Advisors LLC now owns 2,096 shares of the company's stock worth $61,000 after purchasing an additional 1,040 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Performance

Shares of NYSE:PINS traded up $0.83 during trading on Monday, hitting $31.94. 7,425,319 shares of the stock were exchanged, compared to its average volume of 10,832,625. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $45.19. The company has a market capitalization of $21.66 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The company's fifty day simple moving average is $28.55 and its 200-day simple moving average is $31.25.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same period in the previous year, the business posted $0.17 EPS. Pinterest's revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PINS shares. Rosenblatt Securities raised their price target on Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. TD Cowen lowered their price objective on Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Piper Sandler lowered their price objective on Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Morgan Stanley increased their price objective on Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. increased their price objective on Pinterest from $30.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.26.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total transaction of $31,050.00. Following the sale, the director now owns 26,786 shares of the company's stock, valued at approximately $723,222. This trade represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,759 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total value of $119,761.74. Following the completion of the sale, the chief accounting officer now directly owns 171,373 shares in the company, valued at approximately $5,459,943.78. This represents a 2.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,066,426 shares of company stock valued at $34,835,253. 7.06% of the stock is owned by corporate insiders.

Pinterest Company 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.