Pinterest (NYSE:PINS) Issues Earnings Results, Misses Estimates By $0.01 EPS

Pinterest (NYSE:PINS) posted its earnings results on Thursday. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01), FiscalAI reports. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion.

Pinterest Price Performance

Shares of NYSE:PINS traded down $0.55 on Thursday, reaching $18.54. 24,139,243 shares of the company traded hands, compared to its average volume of 15,104,121. The stock has a market capitalization of $12.52 billion, a PE ratio of 6.44, a P/E/G ratio of 0.89 and a beta of 0.92. The company’s 50 day moving average is $25.08 and its 200-day moving average is $30.23. Pinterest has a fifty-two week low of $18.28 and a fifty-two week high of $39.93.

Insiders Place Their Bets

In other Pinterest news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $22.06, for a total transaction of $50,583.58. Following the sale, the insider owned 695,187 shares in the company, valued at approximately $15,335,825.22. The trade was a 0.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the transaction, the chief financial officer owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. The trade was a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,407 shares of company stock worth $855,925 over the last ninety days. 7.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in Pinterest by 15.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock worth $638,969,000 after purchasing an additional 2,319,964 shares during the period. State Street Corp lifted its holdings in shares of Pinterest by 1.6% in the third quarter. State Street Corp now owns 14,079,956 shares of the company’s stock valued at $452,952,000 after purchasing an additional 224,909 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Pinterest by 26.7% in the third quarter. AQR Capital Management LLC now owns 6,216,779 shares of the company’s stock worth $199,994,000 after buying an additional 1,308,816 shares during the period. Man Group plc boosted its position in shares of Pinterest by 185.7% in the third quarter. Man Group plc now owns 4,983,427 shares of the company’s stock worth $160,317,000 after buying an additional 3,239,222 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Pinterest by 23.3% during the third quarter. Legal & General Group Plc now owns 4,405,353 shares of the company’s stock valued at $141,720,000 after buying an additional 833,593 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. HSBC cut shares of Pinterest from a “buy” rating to a “hold” rating and set a $24.90 price objective on the stock. in a research note on Friday, January 30th. Citigroup restated a “buy” rating on shares of Pinterest in a research report on Wednesday, November 5th. Bank of America reduced their price target on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Evercore reiterated an “outperform” rating on shares of Pinterest in a research note on Tuesday, January 27th. Finally, Wolfe Research set a $33.00 target price on Pinterest and gave the stock an “outperform” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.78.

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.