Livforsakringsbolaget Skandia Omsesidigt Raises Stake in Pinterest, Inc. (NYSE:PINS)

Livforsakringsbolaget Skandia Omsesidigt boosted its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 966.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,800 shares of the company's stock after purchasing an additional 40,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Pinterest were worth $1,388,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Pinterest in the fourth quarter worth $28,000. NBC Securities Inc. raised its stake in shares of Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after buying an additional 999 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Pinterest in the 1st quarter valued at about $32,000. Strategic Investment Solutions Inc. IL boosted its stake in shares of Pinterest by 401.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock worth $44,000 after buying an additional 1,204 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock worth $50,000 after acquiring an additional 590 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the transaction, the director now owns 6,274 shares of the company's stock, valued at $208,045.84. This trade represents a 98.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,075,021 shares of company stock valued at $35,038,914. 7.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PINS. Stifel Nicolaus lowered their price target on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Monness Crespi & Hardt dropped their target price on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. The Goldman Sachs Group lowered their price target on Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Guggenheim cut their price objective on Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Morgan Stanley lifted their price target on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.42.

Pinterest Price Performance

Shares of PINS stock traded up $0.94 during trading on Tuesday, hitting $35.08. 10,771,185 shares of the stock traded hands, compared to its average volume of 10,873,937. The firm's fifty day moving average price is $28.79 and its 200-day moving average price is $31.40. The firm has a market capitalization of $23.79 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. As a group, equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.