SEB Asset Management AB Purchases Shares of 308,370 Pinterest, Inc. $PINS

SEB Asset Management AB purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 308,370 shares of the company’s stock, valued at approximately $5,656,000.

A number of other large investors also recently modified their holdings of PINS. Revolve Wealth Partners LLC acquired a new stake in Pinterest during the 4th quarter worth approximately $252,000. Integrated Wealth Concepts LLC raised its holdings in Pinterest by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock valued at $339,000 after buying an additional 607 shares during the period. Empowered Funds LLC lifted its position in Pinterest by 45.6% during the first quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock valued at $470,000 after buying an additional 4,748 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Pinterest by 39.5% during the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock valued at $335,000 after buying an additional 2,649 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Pinterest in the second quarter worth $696,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In other news, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total transaction of $1,060,781.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the transaction, the insider owned 724,673 shares in the company, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 323,845 shares of company stock valued at $6,836,065. 8.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PINS. Royal Bank Of Canada lifted their target price on shares of Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. UBS Group increased their price target on Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Oppenheimer raised their price objective on Pinterest from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. DA Davidson began coverage on Pinterest in a research note on Wednesday, July 8th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 target price (up from $21.00) on shares of Pinterest in a research report on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.69.

Pinterest Trading Down 1.0%

NYSE PINS opened at $22.61 on Thursday. The stock has a market cap of $12.66 billion, a P/E ratio of 47.10, a PEG ratio of 1.30 and a beta of 0.89. The company’s fifty day simple moving average is $21.08 and its 200-day simple moving average is $20.70. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. During the same period last year, the business earned $0.23 EPS. The business’s revenue was up 17.8% on a year-over-year basis. Equities research analysts predict that Pinterest, Inc. will post 0.65 EPS for the current fiscal year.

Pinterest Profile

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.