Pinterest (NYSE:PINS) Trading Up 4.9% – Still a Buy?

Pinterest, Inc. (NYSE:PINS) shares rose 4.9% during mid-day trading on Tuesday . The stock traded as high as $20.19 and last traded at $20.4570. Approximately 3,413,508 shares changed hands during trading, a decline of 82% from the average daily volume of 19,255,316 shares. The stock had previously closed at $19.50.

Analyst Ratings Changes

Several equities analysts recently weighed in on PINS shares. Wall Street Zen upgraded shares of Pinterest from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Evercore set a $27.00 target price on Pinterest in a research note on Tuesday, May 5th. Robert W. Baird upped their price target on Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. UBS Group lifted their price objective on shares of Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus upped their target price on shares of Pinterest from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.40.

Pinterest Stock Up 1.8%

The company has a market cap of $11.14 billion, a price-to-earnings ratio of 41.43, a price-to-earnings-growth ratio of 1.12 and a beta of 0.92. The stock has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $21.27. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. As a group, analysts predict that Pinterest, Inc. will post 0.65 EPS for the current year.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 27,337 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the transaction, the insider owned 724,673 shares in the company, valued at $14,826,809.58. This represents a 3.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the transaction, the director directly owned 27,450 shares in the company, valued at $549,000. The trade was a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 171,112 shares of company stock valued at $3,595,596 over the last ninety days. Corporate insiders own 8.09% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently modified their holdings of PINS. Snowden Capital Advisors LLC boosted its position in Pinterest by 4.4% during the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after purchasing an additional 296 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Pinterest by 3.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after purchasing an additional 358 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Pinterest by 0.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company’s stock worth $2,484,000 after purchasing an additional 464 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of Pinterest by 5.5% during the 4th quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock valued at $265,000 after buying an additional 535 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Pinterest by 2.2% in the 4th quarter. CIBC Asset Management Inc now owns 26,434 shares of the company’s stock valued at $684,000 after buying an additional 560 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.