Pinterest, Inc. $PINS Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in Pinterest, Inc. (NYSE:PINS) by 29.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 170,085 shares of the company’s stock after acquiring an additional 38,744 shares during the period. Handelsbanken Fonder AB’s holdings in Pinterest were worth $6,099,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Prudential PLC boosted its position in shares of Pinterest by 60.0% in the second quarter. Prudential PLC now owns 18,555 shares of the company’s stock worth $665,000 after acquiring an additional 6,960 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Pinterest in the 2nd quarter valued at $1,085,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Pinterest during the 2nd quarter valued at $940,000. Bronte Capital Management Pty Ltd. grew its stake in shares of Pinterest by 13.4% during the 2nd quarter. Bronte Capital Management Pty Ltd. now owns 955,830 shares of the company’s stock valued at $34,276,000 after buying an additional 112,866 shares during the period. Finally, Howe & Rusling Inc. increased its holdings in shares of Pinterest by 4.8% during the 2nd quarter. Howe & Rusling Inc. now owns 182,647 shares of the company’s stock worth $6,550,000 after buying an additional 8,318 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PINS shares. Oppenheimer reiterated an “outperform” rating on shares of Pinterest in a report on Friday, August 8th. Bank of America dropped their target price on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Citigroup restated a “buy” rating on shares of Pinterest in a report on Wednesday, November 5th. Barclays decreased their price objective on shares of Pinterest from $40.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Finally, Sanford C. Bernstein cut their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $39.55.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the sale, the insider directly owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. The trade was a 19.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the completion of the transaction, the chief financial officer owned 312,422 shares in the company, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 607,291 shares of company stock valued at $21,128,964 in the last ninety days. Insiders own 7.11% of the company’s stock.

Pinterest Stock Up 0.5%

NYSE PINS opened at $24.93 on Monday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The business has a 50 day moving average price of $31.51 and a two-hundred day moving average price of $33.89. The stock has a market cap of $16.84 billion, a PE ratio of 8.66, a P/E/G ratio of 1.51 and a beta of 0.96.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The business had revenue of $665.93 million for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.