Andra AP fonden Purchases 775,600 Shares of Pinterest, Inc. $PINS

Andra AP fonden boosted its position in shares of Pinterest, Inc. (NYSE:PINS) by 77.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,775,956 shares of the company’s stock after buying an additional 775,600 shares during the period. Pinterest makes up approximately 0.7% of Andra AP fonden’s investment portfolio, making the stock its 19th largest position. Andra AP fonden owned about 0.26% of Pinterest worth $57,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in shares of Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after purchasing an additional 506 shares in the last quarter. N.E.W. Advisory Services LLC boosted its position in Pinterest by 505.7% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after buying an additional 713 shares during the period. Atlantic Union Bankshares Corp increased its holdings in Pinterest by 3,839.1% in the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after purchasing an additional 883 shares during the period. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest in the second quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Pinterest during the 2nd quarter worth about $45,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Performance

PINS stock opened at $17.81 on Friday. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.24 and a beta of 0.92. The stock has a fifty day moving average of $22.92 and a 200-day moving average of $28.64. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $0.56 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. Equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analysts Set New Price Targets

PINS has been the subject of a number of research reports. Zacks Research upgraded shares of Pinterest from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 price objective (down from $36.00) on shares of Pinterest in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft lowered Pinterest from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research report on Friday, February 13th. Wells Fargo & Company cut their target price on Pinterest from $35.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Finally, Evercore set a $25.00 price target on shares of Pinterest and gave the company an “in-line” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eighteen have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.87.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the sale, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Malik Ducard sold 6,000 shares of the company’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $155,160.00. Following the completion of the transaction, the insider owned 699,773 shares of the company’s stock, valued at $18,096,129.78. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,407 shares of company stock valued at $855,925 over the last 90 days. Company insiders own 7.06% of the company’s stock.

About Pinterest

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.