61,534 Shares in Pinterest, Inc. $PINS Bought by Donoghue Forlines LLC

Donoghue Forlines LLC bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the third quarter, Holdings Channel reports. The fund bought 61,534 shares of the company’s stock, valued at approximately $1,980,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Pinterest during the 2nd quarter worth about $477,853,000. Balyasny Asset Management L.P. boosted its holdings in shares of Pinterest by 1,138.8% in the second quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock worth $165,012,000 after buying an additional 4,230,125 shares during the period. Ameriprise Financial Inc. increased its position in shares of Pinterest by 15.0% in the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock worth $638,969,000 after acquiring an additional 2,319,964 shares in the last quarter. Congress Asset Management Co. acquired a new stake in shares of Pinterest during the second quarter valued at approximately $82,516,000. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Pinterest during the second quarter valued at approximately $71,221,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $30.00 price objective (down previously from $49.00) on shares of Pinterest in a research note on Wednesday, November 5th. Mizuho started coverage on Pinterest in a report on Monday, September 29th. They set an “outperform” rating and a $50.00 price target on the stock. Royal Bank Of Canada dropped their price target on Pinterest from $45.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company reduced their price objective on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Bank of America dropped their target price on Pinterest from $44.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.93.

Pinterest Price Performance

Shares of PINS stock opened at $25.96 on Friday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The stock’s 50-day moving average is $26.38 and its two-hundred day moving average is $31.99. The firm has a market cap of $17.54 billion, a P/E ratio of 9.01, a PEG ratio of 1.23 and a beta of 0.91.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.04). Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, insider Malik Ducard sold 2,293 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $26.18, for a total transaction of $60,030.74. Following the transaction, the insider directly owned 697,480 shares of the company’s stock, valued at $18,260,026.40. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the transaction, the chief financial officer owned 540,358 shares in the company, valued at approximately $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,161 shares of company stock valued at $2,796,466 over the last ninety days. Corporate insiders own 7.06% of the company’s stock.

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.