Forsta AP Fonden Has $5.11 Million Stake in Pinterest, Inc. (NYSE:PINS)

Forsta AP Fonden reduced its holdings in Pinterest, Inc. (NYSE:PINS) by 9.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 115,900 shares of the company’s stock after selling 11,600 shares during the quarter. Forsta AP Fonden’s holdings in Pinterest were worth $5,108,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PINS. Vanguard Group Inc. raised its stake in shares of Pinterest by 1.8% in the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after purchasing an additional 994,848 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock worth $445,818,000 after acquiring an additional 880,398 shares during the period. Franklin Resources Inc. boosted its position in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after acquiring an additional 2,548,925 shares in the last quarter. Capital World Investors increased its stake in Pinterest by 0.7% in the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after acquiring an additional 64,270 shares during the period. Finally, Clearbridge Investments LLC raised its position in Pinterest by 2.2% in the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock worth $283,592,000 after purchasing an additional 176,540 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on PINS shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a research report on Thursday. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday, July 31st. Wells Fargo & Company decreased their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI cut their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Wedbush decreased their price target on Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Pinterest Trading Down 1.5 %

PINS opened at $28.86 on Friday. The stock’s fifty day simple moving average is $33.86 and its 200 day simple moving average is $36.96. The stock has a market cap of $19.80 billion, a PE ratio of 137.44, a price-to-earnings-growth ratio of 3.26 and a beta of 1.00. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. Equities analysts forecast that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Insider Activity at Pinterest

In related news, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares in the company, valued at $8,410,770. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

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.