Bridgefront Capital LLC Buys New Holdings in Pinterest, Inc. (NYSE:PINS)

Bridgefront Capital LLC acquired a new stake in Pinterest, Inc. (NYSE:PINS) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 14,617 shares of the company’s stock, valued at approximately $424,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Pinterest during the 3rd quarter valued at about $87,000. GAMMA Investing LLC increased its stake in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares during the period. Nordea Investment Management AB increased its stake in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after buying an additional 2,093,248 shares during the period. Graypoint LLC bought a new position in shares of Pinterest during the fourth quarter valued at approximately $317,000. Finally, Claro Advisors LLC purchased a new stake in Pinterest in the fourth quarter worth $226,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

NYSE PINS opened at $27.03 on Wednesday. The business’s fifty day moving average is $29.30 and its 200 day moving average is $31.29. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The company has a market capitalization of $18.33 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last posted its quarterly earnings data 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%. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the transaction, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock worth $14,828,392 in the last three months. Company insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Rosenblatt Securities upped their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Friday, January 10th. Citigroup decreased their target price on Pinterest from $47.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays increased their price objective on Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Piper Sandler dropped their target price on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.31.

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.