Handelsbanken Fonder AB Has $3.68 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Handelsbanken Fonder AB cut its holdings in Pinterest, Inc. (NYSE:PINS) by 18.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 126,980 shares of the company’s stock after selling 29,020 shares during the quarter. Handelsbanken Fonder AB’s holdings in Pinterest were worth $3,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Maverick Capital Ltd. increased its position in Pinterest by 47.6% in the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after purchasing an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Pinterest by 8.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after purchasing an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after purchasing an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after acquiring an additional 87,041 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its stake in Pinterest by 20.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after acquiring an additional 68,096 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Rosenblatt Securities boosted their target price on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Roth Mkm decreased their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Morgan Stanley upped their price objective on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Friday, February 7th. Finally, KeyCorp upped their target price on Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.47.

Pinterest Stock Down 4.8 %

NYSE PINS opened at $37.68 on Monday. The company has a market cap of $25.55 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The business has a 50 day moving average price of $32.92 and a 200-day moving average price of $31.88.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (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%. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,157 shares of company stock valued at $600,010. Insiders own 7.11% of the company’s stock.

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.