Insider Selling: Pinterest (NYSE:PINS) Director Sells 1,050 Shares of Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,050 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $20.00, for a total transaction of $21,000.00. Following the transaction, the director directly owned 29,550 shares of the company’s stock, valued at $591,000. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Pinterest Stock Performance

Shares of NYSE:PINS traded down $0.33 during trading hours on Monday, hitting $19.68. The stock had a trading volume of 22,299,222 shares, compared to its average volume of 24,691,604. The stock’s fifty day simple moving average is $21.92 and its 200 day simple moving average is $27.73. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.32 and a beta of 0.93. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) 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 quarter in the prior year, the firm posted $0.56 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Institutional Trading of Pinterest

Several institutional investors have recently modified their holdings of PINS. Norges Bank bought a new position in Pinterest during the fourth quarter valued at about $357,945,000. Davis Selected Advisers bought a new stake in Pinterest in the third quarter worth about $253,887,000. State Street Corp lifted its holdings in Pinterest by 52.6% in the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after acquiring an additional 7,412,213 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Pinterest by 30.5% in the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after acquiring an additional 6,258,628 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of Pinterest by 1,138.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock valued at $165,012,000 after purchasing an additional 4,230,125 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PINS shares. Morgan Stanley increased their price target on Pinterest from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. UBS Group set a $26.00 price objective on shares of Pinterest in a research note on Friday, February 13th. Royal Bank Of Canada downgraded shares of Pinterest from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $38.00 to $17.00 in a report on Friday, February 13th. Mizuho set a $35.00 target price on shares of Pinterest in a research report on Tuesday, February 3rd. Finally, Bank of America restated a “neutral” rating and set a $19.00 price target (down from $39.00) on shares of Pinterest in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.87.

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.