DnB Asset Management AS Buys 1,806 Shares of Pinterest, Inc. (NYSE:PINS)

DnB Asset Management AS grew its stake in Pinterest, Inc. (NYSE:PINS) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,539 shares of the company’s stock after buying an additional 1,806 shares during the period. DnB Asset Management AS’s holdings in Pinterest were worth $2,945,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PINS. Norges Bank bought a new stake in Pinterest during the fourth quarter worth approximately $358,205,000. Point72 Asset Management L.P. acquired a new stake in shares of Pinterest in the third quarter worth $153,829,000. Raymond James Financial Inc. bought a new stake in shares of Pinterest during the 4th quarter worth $61,261,000. Nordea Investment Management AB grew its stake in Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after buying an additional 2,093,248 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Pinterest by 582.2% in the 4th 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 other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the transaction, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,753 shares of company stock worth $11,640,201 in the last ninety days. Insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PINS. Barclays raised their price target on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 price target (up from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Rosenblatt Securities increased their price objective on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group boosted their target price on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company reduced their price target on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating for the company in a report on Monday. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Pinterest Stock Performance

Shares of NYSE PINS opened at $31.01 on Tuesday. The stock has a 50 day moving average price of $34.67 and a 200 day moving average price of $32.42. The stock has a market capitalization of $21.03 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 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%. As a group, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current 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.