Nordea Investment Management AB Raises Position in Pinterest, Inc. (NYSE:PINS)

Nordea Investment Management AB boosted its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 122.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,807,269 shares of the company's stock after buying an additional 2,093,248 shares during the period. Nordea Investment Management AB owned 0.56% of Pinterest worth $111,515,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest during the 2nd quarter worth $25,000. GAMMA Investing LLC increased its position in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after purchasing an additional 415 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Pinterest during the third quarter worth about $37,000. Crewe Advisors LLC boosted its holdings in Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company's stock valued at $37,000 after purchasing an additional 550 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock valued at $49,000 after buying an additional 1,487 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $592,685 over the last three months. Insiders own 7.11% of the company's stock.

Pinterest Stock Performance

Shares of NYSE:PINS traded down $0.62 on Tuesday, hitting $31.79. 6,597,076 shares of the company's stock were exchanged, compared to its average volume of 8,806,719. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The company has a market capitalization of $21.48 billion, a PE ratio of 105.97, a P/E/G ratio of 2.17 and a beta of 1.04. The firm's 50-day moving average is $30.71 and its 200 day moving average is $33.16.

Wall Street Analyst Weigh In

PINS has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Pinterest from $38.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Oppenheimer reduced their target price on Pinterest from $45.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an "overweight" rating and set a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. Benchmark restated a "hold" rating on shares of Pinterest in a report on Friday, November 8th. Finally, UBS Group lowered their target price on shares of Pinterest from $52.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and a consensus target price of $41.46.

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.