Pinterest (NYSE:PINS) Trading 4.9% Higher – Here’s Why

Pinterest, Inc. (NYSE:PINS)’s stock price shot up 4.9% on Tuesday . The stock traded as high as $20.19 and last traded at $20.4570. Approximately 3,413,508 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 19,255,316 shares. The stock had previously closed at $19.50.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PINS shares. Argus downgraded Pinterest from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Citigroup lifted their price target on shares of Pinterest from $19.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Royal Bank Of Canada upped their price objective on shares of Pinterest from $17.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Morgan Stanley increased their price objective on shares of Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $28.00 target price on shares of Pinterest in a research report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.40.

Pinterest Stock Up 2.1%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The stock’s fifty day simple moving average is $20.27 and its two-hundred day simple moving average is $21.37. The stock has a market capitalization of $11.15 billion, a P/E ratio of 41.43, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter last year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, research analysts expect that Pinterest, Inc. will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $21.15, for a total value of $991,406.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the sale, the director directly owned 27,450 shares of the company’s stock, valued at approximately $549,000. The trade was a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 171,112 shares of company stock valued at $3,595,596. 8.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Elevated Capital Advisors LLC bought a new position in Pinterest during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its position in 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 valued at $29,000 after acquiring an additional 1,049 shares during the last quarter. Addison Advisors LLC grew its holdings in Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after acquiring an additional 1,200 shares during the period. Garner Asset Management Corp acquired a new stake in Pinterest during the 4th quarter worth about $36,000. Finally, Summit Securities Group LLC bought a new position in shares of Pinterest in the 1st quarter worth about $43,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Company 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.