Pinterest (NYSE:PINS) Insider Sells $559,315.02 in Stock

Pinterest, Inc. (NYSE:PINS) insider Wanjiku Juanita Walcott sold 27,337 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total transaction of $559,315.02. Following the completion of the sale, the insider directly owned 724,673 shares in the company, valued at approximately $14,826,809.58. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pinterest Stock Down 2.3%

Shares of NYSE PINS traded down $0.49 during mid-day trading on Tuesday, reaching $20.86. The company had a trading volume of 16,947,835 shares, compared to its average volume of 19,042,467. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $19.45 and a two-hundred day simple moving average of $21.89. The stock has a market cap of $11.69 billion, a P/E ratio of 43.47, a PEG ratio of 1.08 and a beta of 0.93. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS) last posted its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm posted $0.23 EPS. Sell-side analysts predict that Pinterest, Inc. will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PINS shares. Cantor Fitzgerald set a $18.00 target price on shares of Pinterest in a research report on Friday, February 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Pinterest in a research report on Tuesday, May 5th. Wall Street Zen raised shares of Pinterest from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Morgan Stanley increased their target price on shares of Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wedbush lowered their price objective on shares of Pinterest from $30.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.40.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in PINS. Atlantic Union Bankshares Corp raised its stake in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after purchasing an additional 883 shares during the last quarter. Elevated Capital Advisors LLC purchased a new stake in shares of Pinterest during the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Pinterest by 2,017.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock valued at $44,000 after acquiring an additional 1,325 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

About Pinterest

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.