Handelsbanken Fonder AB Has $5.54 Million Stake in Pinterest, Inc. (NYSE:PINS)

Handelsbanken Fonder AB boosted its stake in shares of Pinterest, Inc. (NYSE:PINSGet Rating) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 237,641 shares of the company’s stock after buying an additional 2,478 shares during the quarter. Handelsbanken Fonder AB’s holdings in Pinterest were worth $5,537,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in Pinterest by 30,567.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 22,694 shares of the company’s stock worth $528,000 after buying an additional 22,620 shares during the period. Truist Financial Corp lifted its holdings in Pinterest by 1.7% during the 3rd quarter. Truist Financial Corp now owns 78,765 shares of the company’s stock worth $1,835,000 after buying an additional 1,284 shares during the period. Balentine LLC acquired a new position in Pinterest during the 3rd quarter worth about $217,000. Wipfli Financial Advisors LLC acquired a new position in Pinterest during the 3rd quarter worth about $103,000. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Pinterest during the 3rd quarter worth about $326,000. 71.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pinterest news, SVP Naveen Gavini sold 4,756 shares of the business’s stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $22.87, for a total transaction of $108,769.72. Following the completion of the sale, the senior vice president now directly owns 469,735 shares of the company’s stock, valued at approximately $10,742,839.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Benjamin Silbermann sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $26.88, for a total value of $4,032,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Naveen Gavini sold 4,756 shares of the business’s stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $22.87, for a total value of $108,769.72. Following the completion of the transaction, the senior vice president now owns 469,735 shares in the company, valued at approximately $10,742,839.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,432,766 shares of company stock valued at $59,211,878. Corporate insiders own 7.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank of Canada lifted their target price on Pinterest from $23.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, October 28th. Piper Sandler raised Pinterest from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $25.00 to $30.00 in a research report on Tuesday, December 13th. The Goldman Sachs Group raised Pinterest from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $31.00 in a research report on Wednesday, October 5th. Rosenblatt Securities lifted their price objective on Pinterest from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 15th. Finally, Credit Suisse Group lowered their price objective on Pinterest from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, October 28th. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest has a consensus rating of “Hold” and a consensus target price of $28.88.

Pinterest Stock Performance

Shares of PINS opened at $24.46 on Monday. The stock has a 50 day moving average price of $24.12 and a two-hundred day moving average price of $22.79. The firm has a market capitalization of $16.59 billion, a P/E ratio of 349.48 and a beta of 0.97. Pinterest, Inc. has a 52 week low of $16.14 and a 52 week high of $35.04.

Pinterest (NYSE:PINSGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $684.55 million during the quarter, compared to analyst estimates of $664.97 million. Pinterest had a return on equity of 3.10% and a net margin of 2.21%. On average, equities analysts forecast that Pinterest, Inc. will post -0.11 earnings per share for the current year.

Pinterest Profile

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

See Also

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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