Tredje AP fonden Trims Position in Pinterest, Inc. $PINS

Key Points

• Tredje AP fonden cut its Pinterest stake by 37.8% in the fourth quarter, selling 800,294 shares and ending with 1.32 million shares worth about $34.1 million.
• Pinterest reported better-than-expected Q1 results, with EPS of $0.27 versus $0.22 expected and revenue of $1.01 billion, up 17.8% year over year.
• Wall Street sentiment remains cautious: analysts have a Hold consensus on PINS, with an average target price of $27.40, while several firms recently raised their price targets.

Tredje AP fonden lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 37.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,315,643 shares of the company's stock after selling 800,294 shares during the quarter. Tredje AP fonden owned approximately 0.19% of Pinterest worth $34,062,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PINS. Elevated Capital Advisors LLC acquired a new position in shares of Pinterest in the 4th quarter valued at about $26,000. Atlantic Union Bankshares Corp lifted its position in Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company's stock valued at $29,000 after buying an additional 883 shares in the last quarter. Garner Asset Management Corp purchased a new stake in Pinterest during the fourth quarter worth approximately $36,000. Whittier Trust Co. of Nevada Inc. grew its stake in Pinterest by 46.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company's stock worth $42,000 after buying an additional 419 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company's stock worth $44,000 after acquiring an additional 1,325 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the sale, the director owned 27,450 shares in the company, valued at $549,000. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.09% of the stock is currently owned by corporate insiders.

Pinterest Stock Performance

Shares of PINS stock opened at $19.92 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The company's fifty day moving average price is $19.29 and its two-hundred day moving average price is $22.61. The firm has a market capitalization of $11.16 billion, a P/E ratio of 41.50, a P/E/G ratio of 1.05 and a beta of 0.93. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PINS shares. JPMorgan Chase & Co. lifted their target price on shares of Pinterest from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. KeyCorp decreased their price target on shares of Pinterest from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, February 3rd. Barclays upped their price target on shares of Pinterest from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Citigroup upped their price target on shares of Pinterest from $19.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company upped their price target on shares of Pinterest from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report 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's stock. According to data from MarketBeat.com, Pinterest has an average rating of "Hold" and a consensus target price of $27.40.

Pinterest 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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