Swedbank AB Boosts Stock Position in Pinterest, Inc. (NYSE:PINS)

Swedbank AB raised its holdings in Pinterest, Inc. (NYSE:PINS) by 2,108.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,315,052 shares of the company’s stock after buying an additional 1,255,513 shares during the period. Swedbank AB’s holdings in Pinterest were worth $38,137,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Pinterest in the 3rd quarter worth about $37,000. Crewe Advisors LLC raised its stake in shares of Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the last quarter. Finally, Rakuten Securities Inc. grew its stake in Pinterest by 44.2% in the third quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock worth $74,000 after purchasing an additional 703 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. KeyCorp cut their price objective on Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research note on Tuesday, December 10th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, January 10th. Finally, Roth Mkm lowered their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.70.

Pinterest Stock Down 0.8 %

Shares of Pinterest stock opened at $32.97 on Friday. The business has a fifty day simple moving average of $30.88 and a 200-day simple moving average of $31.83. The firm has a market cap of $22.28 billion, a price-to-earnings ratio of 109.89, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Insider Buying and Selling at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is owned by insiders.

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.