Pinterest (NYSE:PINS) Reaches New 1-Year Low After Analyst Downgrade

Pinterest, Inc. (NYSE:PINS) shares reached a new 52-week low during trading on Monday after Hsbc Global Res downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $21.77 and last traded at $22.19, with a volume of 1849316 shares traded. The stock had previously closed at $22.13.

Several other equities research analysts also recently weighed in on PINS. Barclays lowered their price target on Pinterest from $40.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Royal Bank Of Canada decreased their price objective on shares of Pinterest from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group lowered their target price on shares of Pinterest from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Wall Street Zen lowered shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Wells Fargo & Company decreased their price target on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Insider Activity at Pinterest

In other Pinterest news, insider Malik Ducard sold 6,000 shares of the stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $155,160.00. Following the sale, the insider directly owned 699,773 shares of the company’s stock, valued at approximately $18,096,129.78. This trade represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. This trade represents a 19.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 105,161 shares of company stock worth $2,796,466 over the last three months. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its position in shares of Pinterest by 282.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after buying an additional 506 shares in the last quarter. N.E.W. Advisory Services LLC raised its position in Pinterest by 505.7% during the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after acquiring an additional 713 shares during the period. Atlantic Union Bankshares Corp raised its position in Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after acquiring an additional 883 shares during the period. Elevated Capital Advisors LLC purchased a new position in Pinterest during the fourth quarter valued at $26,000. Finally, Wellington Shields Capital Management LLC purchased a new position in Pinterest during the second quarter valued at $40,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Stock Up 0.5%

The firm has a market cap of $15.03 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 1.02 and a beta of 0.92. The company’s 50-day moving average price is $26.03 and its 200-day moving average price is $31.15.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.04). Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest Company Profile

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.