Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.71 Million Stake in Pinterest, Inc. $PINS

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 44.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 202,390 shares of the company’s stock after buying an additional 62,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Pinterest were worth $3,712,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PINS. Norges Bank bought a new stake in Pinterest in the fourth quarter valued at approximately $357,945,000. Davis Selected Advisers acquired a new position in shares of Pinterest in the 3rd quarter worth approximately $253,887,000. State Street Corp boosted its stake in shares of Pinterest by 52.6% in the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after purchasing an additional 7,412,213 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after buying an additional 6,258,628 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Pinterest by 15.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock worth $719,994,000 after buying an additional 3,669,476 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Pinterest from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Barclays boosted their price target on Pinterest from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Citigroup increased their price target on Pinterest from $19.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 price objective on shares of Pinterest and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada boosted their target price on shares of Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 5th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.47.

Pinterest Stock Up 0.7%

PINS stock opened at $22.23 on Tuesday. The stock’s 50 day simple moving average is $20.55 and its 200 day simple moving average is $20.97. The company has a market cap of $12.46 billion, a P/E ratio of 46.32, a price-to-earnings-growth ratio of 1.24 and a beta of 0.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. On average, research analysts expect that Pinterest, Inc. will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the transaction, the director owned 27,450 shares in the company, valued at approximately $549,000. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $21.45, for a total transaction of $1,005,468.75. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 279,070 shares of company stock worth $5,817,283 in the last ninety days. Corporate insiders own 8.09% of the company’s stock.

Pinterest Company 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.