Pinterest (NYSE:PINS) Shares Down 6.6% – Time to Sell?

Pinterest, Inc. (NYSE:PINS) traded down 6.6% on Tuesday . The company traded as low as $18.56 and last traded at $18.6130. 7,864,932 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 18,686,174 shares. The stock had previously closed at $19.93.

More Pinterest News

Here are the key news stories impacting Pinterest this week:

• Negative Sentiment: Several firms, including Bronstein, Gross, Portnoy, Faruqi & Faruqi, Bragar Eagel & Squire, Rosen, Levi & Korsinsky, and Schall, have issued reminders and solicitations tied to a class action alleging Pinterest misled investors about business resilience and caused shareholder losses. Article: Bronstein, Gewirtz & Grossman LLC Urges Pinterest, Inc. Investors to Act: Class Action Filed Alleging Investor Harm
• Negative Sentiment: The lawsuits increase legal and reputational risk for Pinterest and may keep investor attention focused on prior disclosures and potential settlement costs. Article: PINS UPCOMING DEADLINE : The Gross Law Firm Alerts Pinterest, Inc. Stockholders of Securities Class Action – Contact the Firm
• Neutral Sentiment: The legal notices are largely procedural at this stage, but they reinforce that a securities class action is active and approaching a lead-plaintiff deadline. Article: PINS Investors Have Opportunity to Lead Pinterest, Inc. Securities Fraud Lawsuit with the Schall Law Firm

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald set a $18.00 target price on Pinterest in a research note on Friday, February 13th. Evercore set a $27.00 price target on shares of Pinterest in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 price target on shares of Pinterest in a report on Tuesday, May 5th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Pinterest in a report on Friday, February 13th. Finally, Wells Fargo & Company lifted their price target on shares of Pinterest from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Hold” and a consensus target price of $27.40.

Pinterest Price Performance

The business’s fifty day simple moving average is $19.29 and its 200-day simple moving average is $22.61. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm has a market cap of $10.49 billion, a P/E ratio of 39.01, a PEG ratio of 1.05 and a beta of 0.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. During the same period last year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, analysts forecast that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

Insider Activity

In other news, 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 sale, the director directly owned 27,450 shares of the company’s stock, valued at approximately $549,000. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.09% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several hedge funds have recently bought and sold shares of PINS. Norges Bank bought a new position in shares of Pinterest in the fourth quarter worth $357,945,000. Davis Selected Advisers bought a new stake in shares of Pinterest during the 3rd quarter valued at about $253,887,000. State Street Corp boosted its position in shares of Pinterest by 52.6% during 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. boosted its position in shares of Pinterest by 30.5% during 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, Renaissance Technologies LLC boosted its position in shares of Pinterest by 271.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock valued at $109,831,000 after acquiring an additional 4,375,000 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.