Nordea Investment Management AB Has $156.51 Million Stake in Pinterest, Inc. $PINS

Key Points

• Nordea Investment Management AB increased its stake in Pinterest, Inc. to 4,374,297 shares worth approximately $156.51 million, after purchasing an additional 8,488 shares in Q2.
• Several institutional investors have also boosted their positions in Pinterest, with Vanguard Group Inc. and Price T Rowe Associates making notable increases during the first quarter.
• Pinterest reported $0.11 earnings per share and $665.93 million in revenue for the last quarter, with multiple brokerages raising their price targets, ranging from $44.00 to $51.00.

Nordea Investment Management AB lifted its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 0.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,374,297 shares of the company's stock after purchasing an additional 8,488 shares during the quarter. Nordea Investment Management AB owned 0.64% of Pinterest worth $156,512,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Pinterest by 2.2% during the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company's stock worth $1,798,270,000 after purchasing an additional 1,263,863 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Pinterest by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company's stock worth $988,662,000 after buying an additional 6,460,143 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Pinterest by 13.7% during the first quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company's stock worth $480,452,000 after buying an additional 1,862,654 shares in the last quarter. Amundi grew its holdings in Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company's stock worth $441,897,000 after buying an additional 12,271,958 shares in the last quarter. Finally, Swedbank AB grew its holdings in Pinterest by 27.3% during the second quarter. Swedbank AB now owns 7,430,885 shares of the company's stock worth $266,472,000 after buying an additional 1,591,400 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of NYSE:PINS opened at $32.41 on Friday. The company has a market capitalization of $22.04 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.36 and a beta of 0.81. The business has a fifty day moving average price of $34.70 and a two-hundred day moving average price of $33.14. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PINS. Benchmark upped their price target on Pinterest from $45.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. UBS Group upped their price target on Pinterest from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. Wedbush upped their price target on Pinterest from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Citigroup reiterated a "buy" rating and set a $50.00 price target (up previously from $44.00) on shares of Pinterest in a report on Friday, August 8th. Finally, Cowen reiterated a "buy" rating on shares of Pinterest in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.67.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the completion of the transaction, the chief financial officer owned 312,422 shares in the company, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The disclosure for this sale can be found here. Insiders have sold a total of 762,319 shares of company stock worth $27,523,976 over the last 90 days. 7.06% of the stock is owned by insiders.

Pinterest 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.

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