Swedbank AB Reduces Holdings in Pinterest, Inc. $PINS

Key Points

• Swedbank AB cut its Pinterest stake by 51.6% in the fourth quarter, selling 4.36 million shares and leaving it with 4.08 million shares valued at about $105.7 million.
• Pinterest reported better-than-expected Q1 results, posting EPS of $0.27 versus $0.22 expected and revenue of $1.01 billion, up 17.8% year over year.
• Despite the earnings beat, sentiment remains mixed: the stock has seen insider selling and legal overhang from securities fraud class-action efforts, while analysts overall rate the stock a Hold with an average target price of $27.40.

Swedbank AB trimmed its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 51.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,081,736 shares of the company's stock after selling 4,360,250 shares during the quarter. Swedbank AB owned approximately 0.60% of Pinterest worth $105,676,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PINS. Revolve Wealth Partners LLC purchased a new stake in shares of Pinterest during the fourth quarter worth approximately $252,000. Integrated Wealth Concepts LLC increased its position in shares of Pinterest by 5.9% during the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company's stock worth $339,000 after purchasing an additional 607 shares in the last quarter. Empowered Funds LLC increased its position in shares of Pinterest by 45.6% during the first quarter. Empowered Funds LLC now owns 15,168 shares of the company's stock worth $470,000 after purchasing an additional 4,748 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Pinterest by 39.5% during the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company's stock worth $335,000 after purchasing an additional 2,649 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Pinterest during the second quarter worth approximately $696,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Pinterest

Here are the key news stories impacting Pinterest this week:

• Negative Sentiment: Several firms are actively soliciting Pinterest investors to join or lead a securities fraud class action, highlighting ongoing legal risk and potential distraction for management. Article Title
• Negative Sentiment: The lawsuits allege investor harm during the class period, which can weigh on sentiment by increasing uncertainty around potential damages, legal expenses, and reputational fallout. Article Title
• Neutral Sentiment: One article also notes broader market weakness tied to inflation and rising bond yields, which may have added to pressure on growth stocks like Pinterest. Article Title

Insider Activity at Pinterest

In other news, 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 transaction, the director owned 27,450 shares of the company's stock, valued at $549,000. This represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.09% of the stock is currently owned by company insiders.

Pinterest Stock Performance

NYSE PINS opened at $19.25 on Friday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The stock's fifty day moving average is $19.24 and its two-hundred day moving average is $22.29. The firm has a market capitalization of $10.78 billion, a P/E ratio of 40.10, a price-to-earnings-growth ratio of 1.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23.

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

Wall Street Analysts Forecast Growth

PINS has been the subject of several research reports. Loop Capital cut Pinterest from a "buy" rating to a "hold" rating and dropped their price target for the stock from $45.00 to $18.00 in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $24.00 price target on shares of Pinterest in a research report on Tuesday, May 5th. Citigroup boosted their price target on Pinterest from $19.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Mizuho boosted their price objective on Pinterest from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Finally, Rothschild & Co Redburn set a $23.00 price objective on Pinterest and gave the stock a "neutral" rating in a research note on Monday, April 27th. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Pinterest has an average rating of "Hold" and an average target price of $27.40.

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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