380,300 Shares in Pinterest, Inc. (NYSE:PINS) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 380,300 shares of the company's stock, valued at approximately $11,029,000. KLP Kapitalforvaltning AS owned 0.06% of Pinterest at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Pinterest in the third quarter worth about $153,829,000. Southpoint Capital Advisors LP purchased a new position in shares of Pinterest in the 3rd quarter valued at approximately $123,006,000. Raymond James Financial Inc. purchased a new position in shares of Pinterest in the 4th quarter valued at approximately $61,261,000. Nordea Investment Management AB boosted its position in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock valued at $111,515,000 after purchasing an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Pinterest by 582.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company's stock worth $65,741,000 after purchasing an additional 1,934,653 shares during the period. 88.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PINS shares. The Goldman Sachs Group raised their price objective on Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Benchmark raised shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a research note on Friday, February 7th. Wedbush upped their price objective on shares of Pinterest from $38.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Guggenheim upgraded shares of Pinterest from a "neutral" rating to a "buy" rating and lifted their target price for the company from $39.00 to $40.00 in a report on Monday. Finally, Cantor Fitzgerald upped their price target on Pinterest from $36.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.33.

Remove Ads

Insider Activity

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now directly owns 6,274 shares of the company's stock, valued at $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now owns 254,211 shares in the company, valued at $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,753 shares of company stock valued at $11,640,201 in the last ninety days. Corporate insiders own 7.11% of the company's stock.

Pinterest Trading Down 2.3 %

PINS stock traded down $0.76 during midday trading on Friday, reaching $31.49. 8,565,145 shares of the company's stock traded hands, compared to its average volume of 10,065,458. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The stock has a market cap of $21.35 billion, a P/E ratio of 11.70, a PEG ratio of 1.95 and a beta of 1.02. The stock's 50-day moving average is $34.66 and its 200 day moving average is $32.37.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

About Pinterest

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.