DnB Asset Management AS Has $2.95 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

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

A number of other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Pinterest in the 4th quarter worth about $358,205,000. Point72 Asset Management L.P. acquired a new stake in shares of Pinterest in the third quarter valued at approximately $153,829,000. Raymond James Financial Inc. bought a new stake in shares of Pinterest in the fourth quarter valued at approximately $61,261,000. Nordea Investment Management AB boosted its stake in shares of Pinterest by 122.1% in the fourth 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 period. Finally, Assenagon Asset Management S.A. increased its stake in Pinterest by 582.2% during 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 news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,753 shares of company stock valued at $11,640,201 over the last ninety days. 7.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PINS shares. KeyCorp cut their target price on Pinterest from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. The Goldman Sachs Group upped their price objective 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. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and raised their target price for the company from $34.00 to $47.00 in a report on Friday, February 7th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, Cantor Fitzgerald increased their price target on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Pinterest Stock Performance

NYSE:PINS opened at $31.01 on Tuesday. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm’s fifty day moving average is $34.67 and its 200-day moving average is $32.42. The firm has a market cap of $21.03 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.