Tredje AP fonden Reduces Position in Pinterest, Inc. (NYSE:PINS)

Tredje AP fonden decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,187 shares of the company’s stock after selling 1,440 shares during the quarter. Tredje AP fonden’s holdings in Pinterest were worth $4,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest in the second quarter worth approximately $26,000. Hexagon Capital Partners LLC boosted its holdings in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the last quarter. GAMMA Investing LLC grew its position in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the period. Rothschild Investment LLC purchased a new stake in Pinterest during the 2nd quarter valued at $35,000. Finally, International Assets Investment Management LLC bought a new position in shares of Pinterest during the 2nd quarter valued at $40,000. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PINS shares. Piper Sandler restated an “overweight” rating and set a $45.00 price target on shares of Pinterest in a research note on Friday, September 13th. Wells Fargo & Company cut their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Evercore ISI decreased their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on shares of Pinterest in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Citigroup reduced their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.11% of the stock is owned by company insiders.

Pinterest Stock Up 1.8 %

PINS opened at $29.88 on Thursday. The business has a fifty day moving average of $33.03 and a 200 day moving average of $36.82. The stock has a market cap of $20.41 billion, a P/E ratio of 142.29, a PEG ratio of 3.27 and a beta of 1.00. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Pinterest’s revenue was up 20.6% on a year-over-year basis. Equities analysts anticipate that Pinterest, Inc. will post 0.39 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.