Norden Group LLC Acquires 4,067 Shares of Pinterest, Inc. (NYSE:PINS)

Norden Group LLC lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 25.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,055 shares of the company’s stock after purchasing an additional 4,067 shares during the period. Norden Group LLC’s holdings in Pinterest were worth $582,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PINS. State Street Corp increased its holdings in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after acquiring an additional 156,748 shares during the last quarter. Geode Capital Management LLC increased its holdings in Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after acquiring an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares during the last quarter. Finally, Ninety One UK Ltd increased its holdings in Pinterest by 5.4% in the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after acquiring an additional 278,362 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Price Performance

NYSE:PINS opened at $35.57 on Tuesday. The business has a 50 day moving average of $33.71 and a 200 day moving average of $32.18. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share 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, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling at Pinterest

In other news, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,117 shares of company stock worth $253,056. 7.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PINS has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Roth Mkm reduced their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. TD Cowen initiated coverage on Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price for the company. Wells Fargo & Company lifted their target price on Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Rosenblatt Securities lifted their target price on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.47.

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.