Avanza Fonder AB Invests $2.39 Million in Pinterest, Inc. (NYSE:PINS)

Avanza Fonder AB acquired a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 82,373 shares of the company's stock, valued at approximately $2,389,000.

Several other institutional investors have also recently made changes to their positions in PINS. State Street Corp increased its holdings in Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company's stock worth $413,483,000 after buying an additional 156,748 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company's stock worth $305,710,000 after purchasing an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock valued at $285,248,000 after buying an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock valued at $192,423,000 after acquiring an additional 460,708 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Pinterest in the 3rd quarter worth approximately $153,829,000. Institutional investors own 88.81% of the company's stock.

Pinterest Trading Up 0.3 %

Pinterest stock traded up $0.11 during trading hours on Friday, hitting $30.50. 7,837,399 shares of the stock traded hands, compared to its average volume of 7,792,416. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm's 50-day moving average price is $30.41 and its two-hundred day moving average price is $32.33. The company has a market cap of $20.61 billion, a PE ratio of 101.65, a PEG ratio of 1.52 and a beta of 1.04.

Analysts Set New Price Targets

Several brokerages recently issued reports on PINS. Wells Fargo & Company cut their target price on shares of Pinterest from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Monness Crespi & Hardt upgraded Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Friday, January 10th. Raymond James decreased their price objective on Pinterest from $40.00 to $34.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. cut their target price on Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, November 8th. Finally, Robert W. Baird decreased their price target on shares of Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.70.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares of the company's stock, valued at approximately $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares of the company's stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $589,131 over the last ninety days. 7.11% of the stock is owned by corporate insiders.

Pinterest Company 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.