NorthRock Partners LLC Takes $312,000 Position in Pinterest, Inc. (NYSE:PINS)

NorthRock Partners 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 SEC. The fund acquired 10,744 shares of the company’s stock, valued at approximately $312,000.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in Pinterest during the 4th quarter valued at $28,000. Strategic Investment Solutions Inc. IL increased its stake in Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after purchasing an additional 1,204 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after purchasing an additional 590 shares in the last quarter. Huntington National Bank increased its stake in Pinterest by 484.1% during the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after purchasing an additional 1,680 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in Pinterest by 98.5% during the 4th quarter. CoreCap Advisors LLC now owns 2,096 shares of the company’s stock valued at $61,000 after purchasing an additional 1,040 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Benjamin Silbermann sold 408,332 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the sale, the director now owns 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 862,168 shares of company stock worth $28,368,681. Company insiders own 7.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Benchmark cut their price objective on shares of Pinterest from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Citigroup lifted their price objective on shares of Pinterest from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Wolfe Research raised shares of Pinterest from a “peer perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Thursday. KeyCorp lifted their price objective on shares of Pinterest from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Raymond James downgraded shares of Pinterest from an “overweight” rating to a “market perform” rating in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.26.

Pinterest Stock Performance

Shares of Pinterest stock opened at $32.56 on Friday. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $45.19. The stock’s 50-day simple moving average is $28.74 and its 200 day simple moving average is $31.22. The stock has a market capitalization of $22.08 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. Equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Pinterest Company Profile

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.