Forsta AP Fonden Buys 129,300 Shares of Pinterest, Inc. (NYSE:PINS)

Key Points

• Forsta AP Fonden increased its holdings in Pinterest, Inc. by 100.4%, owning a total of 258,100 shares valued at $8 million as of the latest SEC filing.
• Insider selling has occurred recently, with CTO Matthew Madrigal selling 20,000 shares, representing a 4.46% decrease in his position, while another insider sold 11,510 shares, reflecting ongoing insider movements in the company.
• Pinterest reported earnings of $0.33 per share, falling short of analyst expectations, but saw a 16.9% year-over-year revenue increase, totaling $998.23 million.

Forsta AP Fonden grew its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 100.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 258,100 shares of the company's stock after acquiring an additional 129,300 shares during the quarter. Forsta AP Fonden's holdings in Pinterest were worth $8,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC bought a new position in Pinterest in the first quarter worth $25,000. Garde Capital Inc. bought a new position in Pinterest in the first quarter worth $26,000. NBC Securities Inc. lifted its position in Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 999 shares during the period. American National Bank & Trust bought a new position in Pinterest in the first quarter worth $32,000. Finally, Golden State Wealth Management LLC lifted its position in Pinterest by 665.4% in the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after purchasing an additional 1,058 shares during the period. 88.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $32.13, for a total transaction of $3,279,926.79. Following the completion of the transaction, the director owned 6,274 shares of the company's stock, valued at $201,583.62. This represents a 94.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 1,094,279 shares of company stock worth $38,062,654. Corporate insiders own 7.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wolfe Research raised Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research report on Thursday, May 15th. Oppenheimer reaffirmed an "outperform" rating on shares of Pinterest in a research report on Friday. Sanford C. Bernstein raised their target price on Pinterest from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Morgan Stanley raised Pinterest from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $37.00 to $45.00 in a report on Monday, July 21st. Finally, TD Cowen lifted their price objective on Pinterest from $40.00 to $43.00 and gave the company a "buy" rating in a report on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, Pinterest has an average rating of "Moderate Buy" and a consensus price target of $42.40.

Pinterest Stock Up 0.9%

Shares of PINS traded up $0.33 on Wednesday, hitting $35.14. The company's stock had a trading volume of 1,437,334 shares, compared to its average volume of 11,902,281. The firm's fifty day moving average price is $36.09 and its 200-day moving average price is $33.16. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The firm has a market capitalization of $23.83 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.69 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Pinterest had a return on equity of 8.44% and a net margin of 49.31%. The firm had revenue of $998.23 million for the quarter, compared to analyst estimates of $973.42 million. During the same period last year, the company earned $0.29 EPS. The company's revenue was up 16.9% compared to the same quarter last year. As a group, equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.