57,582 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd acquired a new stake in Pinterest, Inc. (NYSE:PINS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 57,582 shares of the company’s stock, valued at approximately $1,674,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. OLD National Bancorp IN grew its stake in Pinterest by 3.5% during the 4th quarter. OLD National Bancorp IN now owns 448,099 shares of the company’s stock worth $12,995,000 after buying an additional 14,968 shares during the last quarter. Swedbank AB grew its stake in Pinterest by 2,108.7% in the 4th quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock valued at $38,137,000 after acquiring an additional 1,255,513 shares during the last quarter. R Squared Ltd acquired a new position in Pinterest during the fourth quarter worth about $169,000. SteelPeak Wealth LLC lifted its holdings in shares of Pinterest by 184.9% in the fourth quarter. SteelPeak Wealth LLC now owns 45,943 shares of the company’s stock valued at $1,332,000 after purchasing an additional 29,819 shares in the last quarter. Finally, Revolve Wealth Partners LLC acquired a new stake in shares of Pinterest during the 4th quarter worth about $252,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Rosenblatt Securities reduced their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 target price on shares of Pinterest in a report on Tuesday, December 10th. Finally, TD Cowen started coverage on shares of Pinterest in a research report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.70.

Pinterest Stock Performance

NYSE PINS opened at $32.99 on Monday. The company has a market cap of $22.30 billion, a PE ratio of 109.98, a P/E/G ratio of 1.69 and a beta of 1.04. The firm’s 50 day moving average price is $31.01 and its 200-day moving average price is $31.65. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,157 shares of company stock valued at $589,131. Insiders own 7.11% of the company’s stock.

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.