Norden Group LLC Lowers Stock Position in Pinterest, Inc. $PINS

Norden Group LLC lessened its stake in Pinterest, Inc. (NYSE:PINS) by 69.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,541 shares of the company’s stock after selling 28,443 shares during the period. Norden Group LLC’s holdings in Pinterest were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Snowden Capital Advisors LLC increased its stake in Pinterest by 4.4% in the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after acquiring an additional 296 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Pinterest by 3.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after purchasing an additional 358 shares in the last quarter. Dynamic Wealth Strategies LLC increased its position in shares of Pinterest by 5.8% during the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after purchasing an additional 361 shares during the last quarter. GAMMA Investing LLC lifted its position in Pinterest by 22.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,143 shares of the company’s stock worth $69,000 after buying an additional 389 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Pinterest by 46.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock worth $42,000 after buying an additional 419 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Pinterest news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the transaction, the insider directly owned 695,187 shares of the company’s stock, valued at approximately $15,335,825.22. The trade was a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 5,636 shares of company stock valued at $131,614 in the last quarter. Insiders own 7.06% of the company’s stock.

Pinterest Price Performance

PINS opened at $17.77 on Monday. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The business has a 50 day simple moving average of $19.65 and a two-hundred day simple moving average of $25.95. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.16 and a beta of 0.93.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the business posted $0.56 earnings per share. Pinterest’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $20.00 price target on shares of Pinterest in a research note on Wednesday, March 4th. Morgan Stanley lowered their price target on shares of Pinterest from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Loop Capital cut Pinterest from a “buy” rating to a “hold” rating and reduced their price objective for the company from $45.00 to $18.00 in a research note on Friday, February 13th. Stifel Nicolaus lowered their target price on Pinterest from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, Robert W. Baird restated a “neutral” rating and set a $20.00 target price (down from $35.00) on shares of Pinterest in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.61.

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.