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:PINSFree Report) 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.

Check Out Our Latest Research Report on PINS

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

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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