Norden Group LLC Sells 28,443 Shares of Pinterest, Inc. $PINS

Norden Group LLC trimmed its position in shares of Pinterest, Inc. (NYSE:PINS) by 69.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,541 shares of the company’s stock after selling 28,443 shares during the quarter. Norden Group LLC’s holdings in Pinterest were worth $325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC raised its position in shares of Pinterest by 505.7% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after acquiring an additional 713 shares in the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after purchasing an additional 883 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Pinterest by 46.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock valued at $42,000 after purchasing an additional 419 shares in the last quarter. Fifth Third Bancorp grew its stake in Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after purchasing an additional 1,325 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Pinterest in the second quarter worth $45,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $22.06, for a total value of $50,583.58. Following the completion of the transaction, the insider owned 695,187 shares in the company, valued at $15,335,825.22. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 5,636 shares of company stock worth $131,614. Company insiders own 7.06% of the company’s stock.

Pinterest Stock Performance

Shares of Pinterest stock opened at $17.77 on Monday. The company has a 50-day simple moving average of $19.65 and a two-hundred day simple moving average of $25.95. The stock has a market capitalization of $11.82 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.16 and a beta of 0.93. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company earned $0.56 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PINS. BMO Capital Markets set a $28.00 target price on shares of Pinterest and gave the company an “outperform” rating in a report on Friday, February 13th. Barclays decreased their price target on shares of Pinterest from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Pinterest in a research report on Monday, December 29th. Benchmark dropped their price objective on shares of Pinterest from $39.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Finally, TD Cowen cut their price objective on shares of Pinterest from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nineteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.61.

Pinterest Profile

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.