Livforsakringsbolaget Skandia Omsesidigt Has $77,000 Stock Position in Pinterest, Inc. $PINS

Key Points

• Livforsakringsbolaget Skandia Omsesidigt sharply cut its Pinterest stake by 98.6% in the first quarter, leaving it with 4,200 shares valued at about $77,000.
• Several other institutions adjusted Pinterest holdings, while institutional investors still own 88.81% of the company. Insider selling was also notable, including transactions by Wanjiku Juanita Walcott and Benjamin Silbermann.
• Pinterest reported strong Q1 results, with EPS of $0.27 topping estimates and revenue of $1.01 billion, up 17.8% year over year. Analysts currently have a Hold consensus on the stock with a $27.42 average price target.

Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 98.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,200 shares of the company's stock after selling 301,600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Pinterest were worth $77,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elevated Capital Advisors LLC bought a new position in shares of Pinterest during the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company's stock worth $29,000 after acquiring an additional 1,049 shares during the last quarter. Addison Advisors LLC raised its stake in Pinterest by 727.3% in the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company's stock valued at $35,000 after acquiring an additional 1,200 shares during the period. Garner Asset Management Corp bought a new stake in Pinterest in the 4th quarter valued at $36,000. Finally, MidFirst Bank acquired a new stake in Pinterest during the 4th quarter valued at $44,000. Institutional investors own 88.81% of the company's stock.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 14,208 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction 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. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total transaction of $1,060,781.25. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 323,845 shares of company stock valued at $6,836,065 in the last quarter. Corporate insiders own 8.09% of the company's stock.

Pinterest Stock Performance

Shares of NYSE PINS opened at $23.68 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 49.33, a P/E/G ratio of 1.28 and a beta of 0.89. The stock's fifty day moving average price is $20.87 and its two-hundred day moving average price is $20.81. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $965.84 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. Pinterest's quarterly revenue was up 17.8% on a year-over-year basis. On average, equities analysts forecast that Pinterest, Inc. will post 0.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PINS shares. Robert W. Baird lifted their price objective on shares of Pinterest from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 price objective on shares of Pinterest and gave the company a "neutral" rating in a research report on Monday, April 27th. Guggenheim restated a "buy" rating and set a $24.00 target price on shares of Pinterest in a research note on Monday, June 15th. BMO Capital Markets reaffirmed an "outperform" rating and set a $30.00 target price on shares of Pinterest in a report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Pinterest in a research note on Tuesday, June 30th. Seventeen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.42.

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.

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.