Nebula Research & Development LLC Takes $3.84 Million Position in Pinterest, Inc. (NYSE:PINS)

Nebula Research & Development LLC bought a new position in Pinterest, Inc. (NYSE:PINS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 132,396 shares of the company's stock, valued at approximately $3,839,000. Pinterest comprises 0.5% of Nebula Research & Development LLC's portfolio, making the stock its 8th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. Wilmington Savings Fund Society FSB purchased a new position in shares of Pinterest during the 3rd quarter valued at about $87,000. GAMMA Investing LLC raised its stake in shares of Pinterest by 63.5% during the 4th 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 last quarter. Everence Capital Management Inc. purchased a new position in shares of Pinterest during the 4th quarter valued at about $520,000. Nordea Investment Management AB increased its stake in shares of Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock valued at $111,515,000 after purchasing an additional 2,093,248 shares in the last quarter. Finally, Graypoint LLC acquired a new position in Pinterest in the 4th quarter worth about $317,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PINS. Monness Crespi & Hardt raised Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a report on Friday, January 10th. The Goldman Sachs Group cut their price objective on Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. UBS Group cut their price objective on Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Citigroup cut their price objective on Pinterest from $47.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Sanford C. Bernstein upgraded Pinterest from a "market perform" rating to an "outperform" rating and upped their price target for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.10.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company's stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $27.00, for a total value of $31,050.00. Following the transaction, the director now directly owns 26,786 shares in the company, valued at approximately $723,222. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock worth $14,828,392 over the last 90 days. 7.11% of the stock is owned by insiders.

Pinterest Stock Performance

Shares of PINS traded down $1.26 during midday trading on Wednesday, hitting $25.02. The company had a trading volume of 6,566,793 shares, compared to its average volume of 12,340,519. The company's 50-day simple moving average is $30.35 and its 200-day simple moving average is $31.53. The firm has a market capitalization of $16.97 billion, a P/E ratio of 9.30, a P/E/G ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

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.