Swedbank AB Buys 10,703 Shares of Pinterest, Inc. (NYSE:PINS)

Swedbank AB increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 21.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 59,539 shares of the company’s stock after acquiring an additional 10,703 shares during the quarter. Swedbank AB’s holdings in Pinterest were worth $1,927,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest during the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest during the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC boosted its holdings in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC boosted its holdings in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Pinterest in the 2nd quarter valued at about $35,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

PINS opened at $30.33 on Thursday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market capitalization of $20.50 billion, a price-to-earnings ratio of 101.10, a PEG ratio of 2.19 and a beta of 1.02. The company’s 50 day moving average price is $31.81 and its two-hundred day moving average price is $35.56.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now directly owns 32,536 shares of the company’s stock, valued at $967,295.28. The trade was a 3.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,580 shares of company stock valued at $1,063,499 in the last ninety days. 7.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a report on Thursday, September 12th. TD Cowen assumed coverage on shares of Pinterest in a report on Tuesday. They issued a “buy” rating and a $38.00 price objective for the company. Stifel Nicolaus cut their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Roth Mkm cut their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.63.

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.