Norden Group LLC Boosts Position in Pinterest, Inc. (NYSE:PINS)

Norden Group LLC grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 25.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,055 shares of the company’s stock after acquiring an additional 4,067 shares during the quarter. Norden Group LLC’s holdings in Pinterest were worth $582,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Whipplewood Advisors LLC purchased a new stake in Pinterest in the fourth quarter worth $28,000. GAMMA Investing LLC grew its stake in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. Crewe Advisors LLC grew its stake in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares during the period. True Wealth Design LLC grew its stake in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the period. Finally, V Square Quantitative Management LLC grew its stake in Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after purchasing an additional 590 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Performance

PINS stock opened at $35.57 on Tuesday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The business’s 50-day moving average is $33.71 and its two-hundred day moving average is $32.18. The company has a market cap of $24.12 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.95 and a beta of 1.06.

Pinterest (NYSE:PINS) last posted its 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 net margin of 51.07% and a return on equity of 8.10%. Equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,117 shares of company stock worth $253,056 over the last quarter. 7.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group upped their price target on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Roth Mkm cut their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Wedbush increased their target price on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Oppenheimer increased their target price on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.