Nordea Investment Management AB Raises Stake in Pinterest, Inc. $PINS

Nordea Investment Management AB increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 0.2% during the second quarter, HoldingsChannel.com reports. The firm owned 4,374,297 shares of the company’s stock after buying an additional 8,488 shares during the period. Nordea Investment Management AB’s holdings in Pinterest were worth $156,512,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in Pinterest by 73.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company’s stock worth $2,760,000 after purchasing an additional 37,829 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Pinterest by 15.6% in the 2nd quarter. Truist Financial Corp now owns 98,363 shares of the company’s stock valued at $3,527,000 after acquiring an additional 13,267 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Pinterest by 11.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,689,112 shares of the company’s stock valued at $239,872,000 after acquiring an additional 661,757 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Pinterest in the 1st quarter valued at about $235,000. Finally, Guild Investment Management Inc. raised its holdings in shares of Pinterest by 47.5% in the 2nd quarter. Guild Investment Management Inc. now owns 34,955 shares of the company’s stock valued at $1,253,000 after acquiring an additional 11,250 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 0.6%

Shares of Pinterest stock opened at $32.41 on Friday. The firm has a market capitalization of $22.04 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.36 and a beta of 0.81. The business’s 50-day moving average price is $34.70 and its 200-day moving average price is $33.14. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The firm had revenue of $665.93 million for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%. As a group, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PINS shares. Bank of America raised their price target on Pinterest from $41.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 8th. Morgan Stanley raised Pinterest from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $37.00 to $45.00 in a report on Monday, July 21st. Oppenheimer reaffirmed an “outperform” rating on shares of Pinterest in a report on Friday, August 8th. TD Cowen raised their price target on Pinterest from $40.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, July 15th. Finally, KeyCorp increased their price objective on Pinterest from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.67.

Insider Buying and Selling

In other Pinterest news, CTO Matthew Madrigal sold 20,000 shares of Pinterest stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $38.58, for a total value of $771,600.00. Following the transaction, the chief technology officer directly owned 428,823 shares of the company’s stock, valued at $16,543,991.34. The trade was a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the completion of the transaction, the chief financial officer directly owned 312,422 shares in the company, valued at $10,887,906.70. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 762,319 shares of company stock valued at $27,523,976 over the last quarter. Company insiders own 7.06% 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.