Pinterest, Inc. (NYSE:PINS) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its holdings in Pinterest, Inc. by 50.9% during the first quarter, now owning 133,422 shares valued at approximately $4.1 million.
• Pinterest's shares dropped 0.7% to $38.27, with a current market capitalization of $25.95 billion and a twelve-month price range between $23.68 and $40.90.
• In insider news, Director Benjamin Silbermann sold 408,332 shares of Pinterest, representing a 98.49% decrease in his ownership, while corporate insiders have sold over $51 million in stock in the last three months.

Skandinaviska Enskilda Banken AB publ decreased its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 50.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,422 shares of the company's stock after selling 138,516 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Pinterest were worth $4,133,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PINS. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Pinterest in the 1st quarter valued at $25,000. Garde Capital Inc. purchased a new stake in shares of Pinterest in the 1st quarter valued at $26,000. NBC Securities Inc. boosted its holdings in shares of Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after acquiring an additional 999 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of Pinterest in the 1st quarter valued at $32,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Pinterest by 665.4% in the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after acquiring an additional 1,058 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $36.88, for a total transaction of $42,412.00. Following the completion of the sale, the director directly owned 31,750 shares in the company, valued at approximately $1,170,940. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $37.95, for a total transaction of $3,874,049.85. Following the sale, the director owned 8,414 shares of the company's stock, valued at approximately $319,311.30. The trade was a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,502,611 shares of company stock valued at $51,602,943 in the last quarter. Insiders own 7.06% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PINS. UBS Group increased their price target on shares of Pinterest from $44.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Benchmark increased their price target on shares of Pinterest from $45.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group lowered their price target on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Wolfe Research raised shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a report on Thursday, May 15th. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.48.

Pinterest Stock Performance

Shares of NYSE PINS traded down $1.18 during mid-day trading on Friday, reaching $37.42. The company's stock had a trading volume of 5,818,654 shares, compared to its average volume of 11,646,357. The stock has a 50-day moving average of $35.16 and a two-hundred day moving average of $32.81. The stock has a market capitalization of $25.38 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.92 and a beta of 0.94. 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 released 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). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. Pinterest's revenue for the quarter was up 15.5% on a year-over-year basis. Analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal 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.