Tredje AP fonden lowered its position in Pinterest, Inc. (NYSE:PINS – Free Report) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,094 shares of the company’s stock after selling 46,093 shares during the quarter. Tredje AP fonden’s holdings in Pinterest were worth $1,337,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in Pinterest by 615.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 224,375 shares of the company’s stock valued at $6,507,000 after acquiring an additional 192,998 shares in the last quarter. Founders Financial Alliance LLC boosted its position in Pinterest by 5.9% during the 4th quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company’s stock valued at $292,000 after acquiring an additional 560 shares in the last quarter. Clare Market Investments LLC bought a new stake in Pinterest during the 4th quarter valued at $252,000. Independent Advisor Alliance boosted its position in Pinterest by 26.3% during the 4th quarter. Independent Advisor Alliance now owns 10,916 shares of the company’s stock valued at $317,000 after acquiring an additional 2,274 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Pinterest by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 65,496 shares of the company’s stock valued at $1,900,000 after acquiring an additional 1,335 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.
Pinterest Stock Up 2.5 %
NYSE:PINS opened at $31.92 on Friday. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The stock has a market capitalization of $21.65 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The stock’s 50-day moving average price is $34.34 and its 200-day moving average price is $32.27.
Insider Activity
In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,941 shares of Pinterest stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.75, for a total value of $140,890.75. Following the completion of the sale, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,152,611.75. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,879 shares of company stock worth $3,653,577 in the last ninety days. Company insiders own 7.11% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on PINS. Barclays increased their target price on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Oppenheimer increased their price objective on Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, February 7th. Morgan Stanley increased their price objective on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Roth Capital set a $32.00 price objective on Pinterest in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.47.
View Our Latest Stock Report on PINS
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.
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