Pinterest, Inc. $PINS Shares Acquired by Norden Group LLC

Key Points

• Norden Group LLC increased its stake in Pinterest by 57.2% during the second quarter, owning 51,616 shares valued at approximately $1.85 million after purchasing an additional 18,783 shares.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Pinterest, with a target price of $42.38, reflecting a general optimism about the company's growth potential.
• Pinterest's recent earnings report showed $0.33 earnings per share, which missed estimates by $0.01, but demonstrated a revenue increase of 16.9% year-over-year to nearly $1 billion.

Norden Group LLC boosted its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 57.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,616 shares of the company's stock after purchasing an additional 18,783 shares during the period. Norden Group LLC's holdings in Pinterest were worth $1,851,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Pinterest by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company's stock valued at $1,798,270,000 after acquiring an additional 1,263,863 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Pinterest by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company's stock valued at $988,662,000 after acquiring an additional 6,460,143 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Pinterest by 13.7% during the 1st quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company's stock valued at $480,452,000 after acquiring an additional 1,862,654 shares during the last quarter. Amundi boosted its stake in Pinterest by 618.9% during the 1st quarter. Amundi now owns 14,254,741 shares of the company's stock valued at $441,897,000 after acquiring an additional 12,271,958 shares during the last quarter. Finally, Swedbank AB boosted its stake in Pinterest by 27.3% during the 2nd quarter. Swedbank AB now owns 7,430,885 shares of the company's stock valued at $266,472,000 after acquiring an additional 1,591,400 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Monness Crespi & Hardt increased their price objective on shares of Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Morgan Stanley upgraded shares of Pinterest from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $37.00 to $45.00 in a research note on Monday, July 21st. Barclays increased their price objective on shares of Pinterest from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Oppenheimer restated an "outperform" rating on shares of Pinterest in a research report on Friday, August 8th. Twenty-four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.38.

Pinterest Stock Down 0.1%

PINS stock opened at $35.29 on Wednesday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The firm's 50-day simple moving average is $36.70 and its 200 day simple moving average is $33.12. The stock has a market cap of $23.99 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The firm had revenue of $998.23 million during the quarter, compared to analyst estimates of $973.42 million. During the same period last year, the business earned $0.29 EPS. The firm's revenue was up 16.9% on a year-over-year basis. Pinterest has set its Q3 2025 guidance at EPS. Equities analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In related news, CTO Matthew Madrigal sold 20,000 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $38.58, for a total value of $771,600.00. Following the sale, the chief technology officer owned 428,823 shares of the company's stock, valued at $16,543,991.34. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the sale, the chief accounting officer directly owned 157,402 shares in the company, valued at approximately $5,502,773.92. This trade represents a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 956,316 shares of company stock worth $34,537,599 in the last 90 days. 7.11% of the stock is currently owned by insiders.

Pinterest 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.

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