SEB Asset Management AB Makes New $5.66 Million Investment in Pinterest, Inc. $PINS

SEB Asset Management AB purchased a new stake in Pinterest, Inc. (NYSE:PINS) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 308,370 shares of the company’s stock, valued at approximately $5,656,000.

Other large investors have also modified their holdings of the company. Snowden Capital Advisors LLC lifted its stake in Pinterest by 4.4% in the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after buying an additional 296 shares in the last quarter. EP Wealth Advisors LLC increased its position in Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after buying an additional 358 shares in the last quarter. Simon Quick Advisors LLC increased its position in Pinterest by 5.5% during the fourth quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock worth $265,000 after buying an additional 535 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Pinterest by 2.2% in the fourth quarter. CIBC Asset Management Inc now owns 26,434 shares of the company’s stock worth $684,000 after acquiring an additional 560 shares during the last quarter. Finally, Coyle Financial Counsel LLC raised its holdings in shares of Pinterest by 5.9% in the fourth quarter. Coyle Financial Counsel LLC now owns 10,589 shares of the company’s stock worth $274,000 after acquiring an additional 587 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider directly owned 724,673 shares of the company’s stock, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total transaction of $1,060,781.25. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 323,845 shares of company stock valued at $6,836,065. Corporate insiders own 8.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PINS shares. Wells Fargo & Company increased their price objective on Pinterest from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. boosted their target price on shares of Pinterest from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Citigroup upped their target price on shares of Pinterest from $19.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Benchmark decreased their price target on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price target on shares of Pinterest in a research note on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.69.

Pinterest Price Performance

Shares of NYSE:PINS opened at $22.61 on Thursday. The company has a market cap of $12.66 billion, a P/E ratio of 47.10, a P/E/G ratio of 1.30 and a beta of 0.89. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93. The business has a fifty day simple moving average of $21.08 and a 200-day simple moving average of $20.70.

Pinterest (NYSE:PINS) last released its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities research analysts forecast that Pinterest, Inc. will post 0.65 EPS for the current year.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.