Tredje AP fonden Has $25.44 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Key Points

• Tredje AP fonden significantly increased its stake in Pinterest, Inc. by 1,680.5% during the first quarter, owning 820,708 shares valued at approximately $25.4 million.
• Pinterest reported earnings of $0.23 per share for the last quarter, falling short of the consensus estimate of $0.25, despite a year-over-year revenue increase of 15.5%.
• Analysts maintain an overall "Moderate Buy" rating on Pinterest, with an average price target of $41.81, amid mixed evaluations from different investment firms.

Tredje AP fonden grew its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 1,680.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 820,708 shares of the company's stock after buying an additional 774,614 shares during the period. Tredje AP fonden owned 0.12% of Pinterest worth $25,442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after purchasing an additional 12,986,310 shares during the last quarter. Marshall Wace LLP increased its position in Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after purchasing an additional 6,129,985 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after acquiring an additional 4,527,902 shares during the last quarter. Contour Asset Management LLC acquired a new stake in shares of Pinterest during the fourth quarter valued at about $86,330,000. Finally, Shapiro Capital Management LLC acquired a new stake in shares of Pinterest during the fourth quarter valued at about $84,190,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PINS has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. UBS Group lifted their price target on shares of Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Oppenheimer lifted their price target on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Morgan Stanley raised shares of Pinterest from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $37.00 to $45.00 in a research note on Monday, July 21st. Finally, Barclays lowered their price objective on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and an average price target of $41.81.

Pinterest Trading Up 0.8%

NYSE:PINS traded up $0.32 during trading hours on Thursday, hitting $38.62. The stock had a trading volume of 14,494,203 shares, compared to its average volume of 7,117,167. The business has a 50 day simple moving average of $35.02 and a two-hundred day simple moving average of $32.75. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The company has a market cap of $26.20 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.92 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. Research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of Pinterest stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director owned 6,274 shares of the company's stock, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 1,502,611 shares of company stock worth $51,602,943 over the last quarter. 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.