Tredje AP fonden Lowers Stake in Pinterest, Inc. $PINS

Tredje AP fonden lowered its holdings in Pinterest, Inc. (NYSE:PINS) by 23.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,115,937 shares of the company’s stock after selling 651,598 shares during the period. Tredje AP fonden owned approximately 0.31% of Pinterest worth $68,070,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in shares of Pinterest by 282.7% in the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after buying an additional 506 shares in the last quarter. N.E.W. Advisory Services LLC boosted its holdings in Pinterest by 505.7% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after acquiring an additional 713 shares during the period. Atlantic Union Bankshares Corp raised its stake in shares of Pinterest by 3,839.1% during 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 purchased a new stake in shares of Pinterest during the second quarter valued at approximately $40,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Pinterest during the second quarter worth $45,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PINS shares. Benchmark reduced their price target on Pinterest from $39.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. TD Cowen cut their price target on shares of Pinterest from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Zacks Research raised shares of Pinterest from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Wells Fargo & Company decreased their price target on Pinterest from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Finally, Bank of America reissued a “neutral” rating and set a $19.00 price target (down from $39.00) on shares of Pinterest in a research report 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.87.

Insider Activity

In other news, insider Malik Ducard sold 2,293 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $22.06, for a total value of $50,583.58. Following the transaction, the insider owned 695,187 shares in the company, valued at $15,335,825.22. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on Wednesday, December 24th. The stock was 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 owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. The trade was a 4.05% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 33,407 shares of company stock worth $855,925. Corporate insiders own 7.06% of the company’s stock.

Pinterest Trading Up 5.8%

Shares of NYSE:PINS opened at $17.74 on Friday. The firm has a market cap of $11.98 billion, a P/E ratio of 29.07, a P/E/G ratio of 1.18 and a beta of 0.92. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The company has a 50 day moving average of $23.62 and a 200-day moving average of $29.22.

Pinterest (NYSE:PINS) last released its earnings results 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 net margin of 9.87% and a return on equity of 7.95%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current 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.