Short Interest in Pinterest, Inc. (NYSE:PINS) Rises By 123.5%

Pinterest, Inc. (NYSE:PINS) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 86,344,123 shares, a growth of 123.5% from the February 26th total of 38,630,865 shares. Currently, 14.0% of the shares of the company are sold short. Based on an average daily trading volume, of 23,712,110 shares, the short-interest ratio is currently 3.6 days.

Pinterest Trading Down 1.0%

PINS traded down $0.19 during trading on Friday, hitting $17.77. The company’s stock had a trading volume of 16,311,383 shares, compared to its average volume of 21,430,840. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 1.17 and a beta of 0.93. Pinterest has a twelve month low of $13.84 and a twelve month high of $39.93. The business’s fifty day simple moving average is $19.65 and its 200 day simple moving average is $26.09.

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

Insider Buying and Selling at Pinterest

In other 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 value of $50,583.58. Following the completion of the transaction, the insider owned 695,187 shares of the company’s stock, valued at $15,335,825.22. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 5,636 shares of company stock worth $131,614. Company insiders own 7.06% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Snowden Capital Advisors LLC lifted its stake in Pinterest by 4.4% in the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after buying an additional 296 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Pinterest by 3.9% during the second 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 during the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Pinterest by 3.6% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after acquiring an additional 359 shares during the last quarter. Dynamic Wealth Strategies LLC lifted its position in shares of Pinterest by 5.8% in the second quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after acquiring an additional 361 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Pinterest by 22.2% in the third quarter. GAMMA Investing LLC now owns 2,143 shares of the company’s stock worth $69,000 after acquiring an additional 389 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of analyst reports. Barclays decreased their price target on Pinterest from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, February 13th. UBS Group set a $26.00 target price on shares of Pinterest in a report on Friday, February 13th. TD Cowen decreased their target price on shares of Pinterest from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Citigroup downgraded shares of Pinterest from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $19.00 in a report on Friday, February 13th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $20.00 price target on shares of Pinterest in a research report on Wednesday, March 4th. One equities research 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 an average rating of “Hold” and an average target price of $25.61.

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.