Northern Right Capital Management L.P. Buys 485,000 Shares of Pinterest, Inc. $PINS

Northern Right Capital Management L.P. raised its position in shares of Pinterest, Inc. (NYSE:PINS) by 275.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 661,096 shares of the company’s stock after buying an additional 485,000 shares during the quarter. Pinterest accounts for 6.6% of Northern Right Capital Management L.P.’s portfolio, making the stock its 6th largest position. Northern Right Capital Management L.P.’s holdings in Pinterest were worth $21,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PINS. Snowden Capital Advisors LLC raised its holdings in shares of Pinterest by 4.4% during the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after acquiring an additional 296 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Pinterest by 3.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after acquiring an additional 358 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its stake in Pinterest by 3.6% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock worth $369,000 after purchasing an additional 359 shares during the period. Dynamic Wealth Strategies LLC boosted its stake in Pinterest by 5.8% in the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock worth $237,000 after purchasing an additional 361 shares during the period. Finally, GAMMA Investing LLC grew its position in Pinterest by 22.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,143 shares of the company’s stock worth $69,000 after purchasing an additional 389 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the transaction, the chief financial officer owned 540,358 shares in the company, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Malik Ducard sold 6,000 shares of Pinterest stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $155,160.00. Following the completion of the transaction, the insider directly owned 699,773 shares in the company, valued at approximately $18,096,129.78. This represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,457 shares of company stock worth $876,925 over the last three months. 7.11% of the stock is owned by company insiders.

Pinterest Price Performance

Pinterest stock opened at $18.26 on Tuesday. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.21 and a beta of 0.93. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The company’s fifty day moving average price is $21.17 and its two-hundred day moving average price is $27.12.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.Pinterest’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PINS. Barclays cut their target price on shares of Pinterest from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $23.00 price target on shares of Pinterest in a report on Friday, February 13th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $20.00 price target (down from $36.00) on shares of Pinterest in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft downgraded Pinterest from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Friday, February 13th. Finally, Mizuho set a $35.00 price objective on Pinterest in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have issued a Hold rating to the stock. According to data from MarketBeat, Pinterest presently has a consensus rating of “Hold” and a consensus price target of $25.87.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.