Swedbank AB Has $38.14 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Swedbank AB boosted its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 2,108.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,315,052 shares of the company's stock after purchasing an additional 1,255,513 shares during the quarter. Swedbank AB owned 0.19% of Pinterest worth $38,137,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PINS. Point72 Asset Management L.P. bought a new position in shares of Pinterest during the 3rd quarter valued at about $153,829,000. Southpoint Capital Advisors LP bought a new position in Pinterest in the third quarter valued at approximately $123,006,000. Ontario Teachers Pension Plan Board lifted its stake in Pinterest by 51.5% in 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 in the last quarter. Nordea Investment Management AB increased 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 worth $111,515,000 after acquiring an additional 2,093,248 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Pinterest by 582.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company's stock worth $65,741,000 after acquiring an additional 1,934,653 shares during the period. Institutional investors own 88.81% of the company's stock.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the sale, the director now owns 31,386 shares in the company, valued at $972,338.28. The trade was a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company's 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. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by insiders.

Pinterest Price Performance

PINS traded up $0.06 during trading on Friday, hitting $32.99. 8,996,184 shares of the stock traded hands, compared to its average volume of 9,465,764. The business has a 50 day moving average price of $31.01 and a 200 day moving average price of $31.65. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 109.98, a PEG ratio of 1.69 and a beta of 1.04. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PINS shares. JPMorgan Chase & Co. dropped their price target on Pinterest from $38.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, November 8th. KeyCorp cut their target price on Pinterest from $39.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, January 10th. TD Cowen started coverage on shares of Pinterest in a research note on Tuesday, November 26th. They set a "buy" rating and a $38.00 price target for the company. Piper Sandler downgraded shares of Pinterest from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $41.00 to $36.00 in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $41.00 target price on shares of Pinterest in a report on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Pinterest currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.70.

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.