Pinterest, Inc. $PINS Shares Purchased by Andra AP fonden

Key Points

• Andra AP fonden increased its Pinterest stake by 7.9% in the fourth quarter, owning 1,915,500 shares valued at about $49.6 million as of its latest filing.
• Institutional ownership remains heavy, with hedge funds and other investors holding 88.81% of Pinterest’s stock. Several firms recently added to their positions, while insiders also sold shares over the past 90 days.
• Pinterest reported better-than-expected Q1 results, including EPS of $0.27 versus $0.22 expected and revenue of $1.01 billion, up 17.8% year over year. Analysts currently have a consensus rating of Hold with a target price of $27.40.

Andra AP fonden lifted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,915,500 shares of the company's stock after purchasing an additional 139,544 shares during the quarter. Pinterest comprises about 0.6% of Andra AP fonden's holdings, making the stock its 27th largest holding. Andra AP fonden owned 0.28% of Pinterest worth $49,592,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new position in shares of Pinterest during the fourth quarter worth $252,000. Integrated Wealth Concepts LLC boosted its holdings in Pinterest by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company's stock valued at $339,000 after purchasing an additional 607 shares during the period. Empowered Funds LLC boosted its holdings in Pinterest by 45.6% in the first quarter. Empowered Funds LLC now owns 15,168 shares of the company's stock valued at $470,000 after purchasing an additional 4,748 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Pinterest by 39.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company's stock valued at $335,000 after acquiring an additional 2,649 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in Pinterest in the second quarter valued at approximately $696,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on PINS. Wedbush dropped their price target on shares of Pinterest from $30.00 to $16.00 and set a "neutral" rating on the stock in a research note on Friday, February 13th. Benchmark dropped their price target on Pinterest from $34.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on Pinterest from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Sanford C. Bernstein reiterated an "outperform" rating and set a $20.00 target price on shares of Pinterest in a research report on Friday, February 13th. Finally, Wells Fargo & Company boosted their price target on Pinterest from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.40.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 27,337 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the completion of the sale, the insider directly owned 724,673 shares in the company, valued at $14,826,809.58. This represents a 3.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total value of $42,000.00. Following the sale, the director owned 27,450 shares of the company's stock, valued at approximately $549,000. The trade was a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 124,237 shares of company stock worth $2,604,190 in the last ninety days. Insiders own 8.09% of the company's stock.

Pinterest Trading Down 1.0%

Shares of Pinterest stock opened at $21.55 on Friday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The firm has a market cap of $12.07 billion, a PE ratio of 44.90, a P/E/G ratio of 1.18 and a beta of 0.92. The business's fifty day moving average is $19.94 and its two-hundred day moving average is $21.64. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business's revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. Analysts anticipate that Pinterest, Inc. will post 0.68 earnings per share for the current year.

Pinterest Company Profile

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.

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