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

KLP Kapitalforvaltning AS purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the 4th quarter, Holdings Channel reports. The firm purchased 380,300 shares of the company’s stock, valued at approximately $11,029,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Pinterest by 7.4% during the 3rd quarter. Empowered Funds LLC now owns 9,165 shares of the company’s stock worth $297,000 after purchasing an additional 635 shares in the last quarter. Quest Partners LLC raised its position in Pinterest by 1,109.4% during the third quarter. Quest Partners LLC now owns 9,796 shares of the company’s stock worth $317,000 after acquiring an additional 8,986 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Pinterest in the third quarter valued at $458,000. Commerce Bank grew its position in shares of Pinterest by 3.3% in the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after acquiring an additional 378 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake 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 worth $27,326,000 after purchasing an additional 32,539 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

PINS has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company lifted their target price on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. TD Cowen assumed coverage on Pinterest in a research note on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price target on the stock. Rosenblatt Securities lifted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 29,605 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $33.95, for a total value of $1,005,089.75. Following the completion of the transaction, the chief financial officer now owns 166,408 shares of the company’s stock, valued at $5,649,551.60. This represents a 15.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the sale, the insider now owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,417 shares of company stock worth $7,803,946 in the last three months. 7.11% of the stock is owned by corporate insiders.

Pinterest Stock Performance

Shares of PINS stock opened at $34.05 on Tuesday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a market cap of $23.09 billion, a PE ratio of 12.66, a P/E/G ratio of 1.95 and a beta of 1.02. The stock’s fifty day moving average price is $34.46 and its two-hundred day moving average price is $32.31.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Pinterest Company 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.