Pinterest (NYSE:PINS) Reaches New 12-Month Low Following Analyst Downgrade

Pinterest, Inc. (NYSE:PINS)’s stock price hit a new 52-week low during mid-day trading on Monday after Hsbc Global Res downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $21.77 and last traded at $22.19, with a volume of 1849316 shares traded. The stock had previously closed at $22.13.

PINS has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Pinterest in a report on Monday, December 29th. Morgan Stanley raised their price target on shares of Pinterest from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Royal Bank Of Canada lowered their price target on shares of Pinterest from $45.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Piper Sandler reiterated a “neutral” rating and issued a $33.00 price objective (down previously from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. Finally, Wedbush lowered shares of Pinterest from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $34.00 to $30.00 in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Insider Activity at Pinterest

In other news, insider Malik Ducard sold 2,293 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $26.18, for a total value of $60,030.74. Following the completion of the sale, the insider owned 697,480 shares of the company’s stock, valued at $18,260,026.40. This represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 105,161 shares of company stock valued at $2,796,466. 7.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PINS. Snowden Capital Advisors LLC grew its holdings in shares of Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after purchasing an additional 296 shares during the period. Penserra Capital Management LLC lifted its position in Pinterest by 10.1% in the second quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock valued at $115,000 after buying an additional 300 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after buying an additional 358 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its stake in Pinterest by 3.6% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock worth $369,000 after buying an additional 359 shares during the period. Finally, Dynamic Wealth Strategies LLC increased its position in shares of Pinterest by 5.8% during 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 during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Up 0.5%

The business’s 50-day simple moving average is $26.03 and its two-hundred day simple moving average is $31.15. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 1.02 and a beta of 0.92.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. Sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.