Pinterest, Inc. (NYSE:PINS – Get Rating) traded down 6.1% on Tuesday after Credit Suisse Group lowered their price target on the stock from $26.00 to $25.00. Credit Suisse Group currently has a neutral rating on the stock. Pinterest traded as low as $22.76 and last traded at $23.15. 486,998 shares were traded during trading, a decline of 96% from the average session volume of 13,352,394 shares. The stock had previously closed at $24.65.
PINS has been the subject of several other reports. Susquehanna raised Pinterest from a “neutral” rating to a “positive” rating and increased their price objective for the company from $22.00 to $35.00 in a report on Tuesday, August 2nd. KeyCorp raised their price target on Pinterest from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 2nd. Evercore ISI raised their price target on Pinterest from $24.00 to $28.00 and gave the stock an “in-line” rating in a report on Tuesday, August 2nd. UBS Group raised their price target on Pinterest from $19.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Finally, TheStreet raised Pinterest from a “d+” rating to a “c-” rating in a report on Tuesday, August 16th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.36.
Insider Buying and Selling at Pinterest
In related news, CEO William J. Ready acquired 222,551 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $22.47 per share, for a total transaction of $5,000,720.97. Following the completion of the acquisition, the chief executive officer now owns 222,551 shares in the company, valued at $5,000,720.97. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Naveen Gavini sold 4,756 shares of Pinterest stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $20.01, for a total value of $95,167.56. Following the transaction, the senior vice president now owns 501,653 shares in the company, valued at $10,038,076.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William J. Ready acquired 222,551 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $22.47 per share, for a total transaction of $5,000,720.97. Following the acquisition, the chief executive officer now owns 222,551 shares of the company’s stock, valued at approximately $5,000,720.97. The disclosure for this purchase can be found here. Insiders have sold 124,750 shares of company stock worth $3,111,454 over the last 90 days. Corporate insiders own 7.58% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of PINS. Guggenheim Capital LLC increased its holdings in Pinterest by 12.2% during the 4th quarter. Guggenheim Capital LLC now owns 22,441 shares of the company’s stock valued at $816,000 after purchasing an additional 2,441 shares during the period. Mackenzie Financial Corp increased its holdings in Pinterest by 26.5% during the 4th quarter. Mackenzie Financial Corp now owns 80,209 shares of the company’s stock valued at $2,916,000 after purchasing an additional 16,789 shares during the period. Empirical Capital Management LLC increased its holdings in Pinterest by 38.7% during the 4th quarter. Empirical Capital Management LLC now owns 214,470 shares of the company’s stock valued at $7,796,000 after purchasing an additional 59,820 shares during the period. Forager Funds Management Pty Ltd bought a new stake in Pinterest during the 4th quarter valued at approximately $4,678,000. Finally, Metatron Capital SICAV plc bought a new stake in Pinterest during the 4th quarter valued at approximately $669,000. Hedge funds and other institutional investors own 70.78% of the company’s stock.
Pinterest Stock Performance
The company has a 50-day simple moving average of $23.35 and a two-hundred day simple moving average of $21.69. The firm has a market capitalization of $15.59 billion, a P/E ratio of 75.19 and a beta of 1.00.
Pinterest Stock is a Sticky Drama-Free Reopening Benefactor
Pinterest (NYSE:PINS – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.11). The firm had revenue of $666.00 million for the quarter, compared to the consensus estimate of $663.19 million. Pinterest had a net margin of 8.10% and a return on equity of 8.35%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, research analysts forecast that Pinterest, Inc. will post -0.15 earnings per share for the current fiscal year.
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 inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.
