Avanza Fonder AB Buys New Stake in Pinterest, Inc. (NYSE:PINS)

Avanza Fonder AB purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 82,373 shares of the company’s stock, valued at approximately $2,389,000.

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

Pinterest Trading Up 0.3 %

Shares of NYSE:PINS opened at $30.50 on Friday. The firm has a market cap of $20.61 billion, a PE ratio of 101.65, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The company has a fifty day simple moving average of $30.41 and a 200 day simple moving average of $32.41. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock valued at $589,131 in the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

PINS has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. UBS Group decreased their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, January 10th. Wells Fargo & Company reduced their target price on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a research note on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $40.70.

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.