12,351,892 Shares in Pinterest, Inc. (NYSE:PINS) Acquired by Norges Bank

Norges Bank bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,351,892 shares of the company's stock, valued at approximately $358,205,000. Norges Bank owned about 1.83% of Pinterest at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Whipplewood Advisors LLC bought a new stake in Pinterest during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC grew its position in shares of Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after acquiring an additional 415 shares during the period. True Wealth Design LLC grew its position in shares of Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock valued at $49,000 after acquiring an additional 1,487 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock worth $50,000 after purchasing an additional 590 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in Pinterest by 17,692.3% during the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company's stock valued at $67,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Pinterest Stock Down 13.2 %

PINS traded down $4.13 during trading on Thursday, reaching $27.25. The company had a trading volume of 9,867,103 shares, compared to its average volume of 10,091,654. Pinterest, Inc. has a 52 week low of $26.96 and a 52 week high of $45.19. The stock has a market cap of $18.48 billion, a P/E ratio of 10.13, a PEG ratio of 1.95 and a beta of 1.02. The business has a 50 day simple moving average of $34.64 and a 200-day simple moving average of $32.43.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 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, equities research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now owns 254,211 shares of the company's stock, valued at $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares of the company's stock, valued at $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 351,753 shares of company stock valued at $11,640,201. Insiders own 7.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PINS. Raymond James upped their price target on Pinterest from $34.00 to $42.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Royal Bank of Canada increased their target price on shares of Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. The Goldman Sachs Group lifted their price target on shares of Pinterest from $42.00 to $47.00 and gave the company a "buy" rating in a report on Friday, February 7th. Rosenblatt Securities increased their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein upgraded shares of Pinterest from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.17.

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.