Pinterest, Inc. (NYSE:PINS) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its stake in shares of Pinterest, Inc. (NYSE:PINS) by 18.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,980 shares of the company’s stock after selling 29,020 shares during the quarter. Handelsbanken Fonder AB’s holdings in Pinterest were worth $3,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Maverick Capital Ltd. raised its stake in shares of Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after buying an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Pinterest by 8.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after acquiring an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA raised its position in Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after acquiring an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after acquiring an additional 87,041 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after purchasing an additional 68,096 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,157 shares of company stock valued at $600,010. Insiders own 7.11% of the company’s stock.

Pinterest Trading Down 4.8 %

PINS stock opened at $37.68 on Monday. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a fifty day simple moving average of $32.92 and a 200 day simple moving average of $31.88. The firm has a market cap of $25.55 billion, a PE ratio of 14.01, a PEG ratio of 1.95 and a beta of 1.06.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on PINS shares. Raymond James increased their target price on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Oppenheimer increased their price objective on Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada boosted their target price on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $47.00 in a report on Friday, February 7th. Finally, UBS Group dropped their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Eight equities research 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.47.

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.