Shares of Pinterest, Inc. (NYSE:PINS – Get Free Report) gapped down before the market opened on Thursday after KeyCorp lowered their price target on the stock from $48.00 to $40.00. The stock had previously closed at $32.85, but opened at $31.07. KeyCorp currently has an overweight rating on the stock. Pinterest shares last traded at $31.97, with a volume of 4,482,310 shares traded.
PINS has been the subject of several other research reports. BMO Capital Markets assumed coverage on Pinterest in a research note on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 price target for the company. Susquehanna upped their price objective on shares of Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a report on Friday, February 9th. Royal Bank of Canada raised their price target on shares of Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Argus upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Thursday, January 18th. Finally, Stifel Nicolaus raised their target price on Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.
Insider Activity
In related news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,471 shares of company stock valued at $6,525,231. 6.85% of the stock is owned by insiders.
Institutional Investors Weigh In On Pinterest
A number of large investors have recently bought and sold shares of PINS. Vanguard Group Inc. boosted its stake in shares of Pinterest by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock worth $2,087,165,000 after purchasing an additional 1,439,595 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after acquiring an additional 3,390,924 shares during the period. Franklin Resources Inc. boosted its position in Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after purchasing an additional 2,548,925 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Pinterest by 12.6% during the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock valued at $344,685,000 after buying an additional 1,043,173 shares during the period. Finally, Capital World Investors raised its stake in shares of Pinterest by 0.7% during the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after purchasing an additional 64,270 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.
Pinterest Stock Performance
The business’s fifty day simple moving average is $34.68 and its 200 day simple moving average is $34.16. The stock has a market cap of $22.16 billion, a price-to-earnings ratio of -547.41, a price-to-earnings-growth ratio of 4.53 and a beta of 0.99.
Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. As a group, analysts forecast that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.
About Pinterest
Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.