Pinterest, Inc. (NYSE:PINS – Get Free Report)’s share price fell 3% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $24.56 and last traded at $24.64. 1,118,147 shares traded hands during trading, a decline of 90% from the average session volume of 11,149,253 shares. The stock had previously closed at $25.40.
Specifically, insider Christine Deputy sold 45,153 shares of Pinterest stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $26.48, for a total transaction of $1,195,651.44. Following the sale, the insider now owns 349,836 shares of the company’s stock, valued at approximately $9,263,657.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pinterest news, SVP Naveen Gavini sold 9,598 shares of Pinterest stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $28.58, for a total transaction of $274,310.84. Following the completion of the transaction, the senior vice president now directly owns 289,593 shares of the company’s stock, valued at $8,276,567.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christine Deputy sold 45,153 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $26.48, for a total transaction of $1,195,651.44. Following the completion of the sale, the insider now owns 349,836 shares in the company, valued at approximately $9,263,657.28. The disclosure for this sale can be found here. Insiders have sold a total of 663,566 shares of company stock valued at $18,069,118 over the last three months. 6.85% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Wells Fargo & Company boosted their target price on Pinterest from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Robert W. Baird increased their target price on Pinterest from $30.00 to $34.00 in a report on Wednesday, August 2nd. Stifel Nicolaus raised their target price on Pinterest from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Rosenblatt Securities upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and upped their price target for the stock from $27.00 to $35.00 in a research report on Wednesday, August 2nd. Finally, Loop Capital raised their price objective on shares of Pinterest from $28.00 to $37.00 in a research report on Monday, July 17th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.58.
Pinterest Trading Up 3.2 %
The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of -60.94, a price-to-earnings-growth ratio of 81.03 and a beta of 1.03. The stock’s 50 day moving average is $27.40 and its two-hundred day moving average is $26.14.
Pinterest (NYSE:PINS – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. Pinterest had a negative net margin of 10.14% and a negative return on equity of 4.59%. The company had revenue of $708.03 million for the quarter, compared to the consensus estimate of $698.28 million. On average, research analysts anticipate that Pinterest, Inc. will post 0.01 earnings per share for the current year.
Institutional Investors Weigh In On Pinterest
A number of institutional investors and hedge funds have recently made changes to their positions in PINS. Vanguard Group Inc. raised its stake in Pinterest by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 50,128,803 shares of the company’s stock valued at $1,233,670,000 after acquiring an additional 958,619 shares during the period. BlackRock Inc. grew its stake in Pinterest by 1.6% during the second quarter. BlackRock Inc. now owns 34,476,228 shares of the company’s stock worth $942,580,000 after buying an additional 545,900 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Pinterest by 28.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,743,947 shares of the company’s stock valued at $702,039,000 after purchasing an additional 5,670,073 shares in the last quarter. Amundi boosted its stake in Pinterest by 32.3% in the fourth quarter. Amundi now owns 21,631,690 shares of the company’s stock valued at $584,272,000 after buying an additional 5,285,682 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Pinterest by 22.7% in the 1st quarter. Macquarie Group Ltd. now owns 18,300,308 shares of the company’s stock valued at $499,049,000 after purchasing an additional 3,385,379 shares in the last quarter. Institutional investors own 72.63% of the company’s stock.
Pinterest Company Profile
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.
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