Norden Group LLC Invests $214,000 in Pinterest, Inc. (NYSE:PINS)

Norden Group LLC acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,165 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Legacy Capital Group California Inc. grew its holdings in shares of Pinterest by 1.7% during the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after purchasing an additional 267 shares in the last quarter. Venture Visionary Partners LLC lifted its position in Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after buying an additional 324 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in Pinterest by 0.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after buying an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after buying an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 2.0 %

NYSE PINS opened at $41.29 on Monday. Pinterest, Inc. has a 12 month low of $23.59 and a 12 month high of $45.19. The stock has a market cap of $28.21 billion, a P/E ratio of 196.62, a P/E/G ratio of 4.03 and a beta of 0.97. The stock’s fifty day moving average price is $42.74 and its 200-day moving average price is $38.30.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The firm had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, analysts forecast that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PINS has been the subject of several recent research reports. Wedbush boosted their price objective on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday, May 1st. Stifel Nicolaus boosted their price objective on Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. KeyCorp reduced their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group boosted their target price on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.04.

Insider Activity

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total transaction of $81,711.50. Following the transaction, the director now directly owns 29,712 shares of the company’s stock, valued at $1,255,332. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total value of $81,711.50. Following the transaction, the director now owns 29,712 shares of the company’s stock, valued at $1,255,332. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the sale, the insider now owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The disclosure for this sale can be found here. Insiders have sold a total of 50,250 shares of company stock valued at $2,191,304 over the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

About Pinterest

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.