ING Groep NV Makes New $9.33 Million Investment in Pinterest, Inc. (NYSE:PINS)

ING Groep NV bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 4th quarter, Holdings Channel.com reports. The firm bought 321,569 shares of the company’s stock, valued at approximately $9,326,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Pinterest by 3.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after purchasing an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Pinterest by 2.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after purchasing an additional 342 shares during the period. Commerce Bank lifted its stake in shares of Pinterest by 3.3% in the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after purchasing an additional 378 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada upped their price target on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group upped their price target on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Roth Mkm dropped their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $41.00 price target (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,157 shares of company stock worth $600,010. Insiders own 7.11% of the company’s stock.

Pinterest Stock Down 4.8 %

PINS stock opened at $37.68 on Friday. The firm has a market cap of $25.55 billion, a PE ratio of 14.01, a P/E/G ratio of 1.90 and a beta of 1.06. The business has a 50 day moving average of $32.78 and a 200-day moving average of $31.78. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results 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%. On average, research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current 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.