Pinterest (NYSE:PINS) Shares Gap Down – What’s Next?

Pinterest, Inc. (NYSE:PINS) shares gapped down prior to trading on Monday . The stock had previously closed at $23.19, but opened at $22.09. Pinterest shares last traded at $22.0750, with a volume of 1,469,363 shares.

Analysts Set New Price Targets

PINS has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Wedbush restated a “neutral” rating and issued a $24.00 target price on shares of Pinterest in a research note on Wednesday, August 5th. Oppenheimer lifted their price target on Pinterest from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their price target on Pinterest from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Finally, TD Cowen reiterated a “buy” rating on shares of Pinterest in a report on Monday, June 22nd. Eighteen investment analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.90.

Pinterest Price Performance

The firm’s fifty day simple moving average is $22.88 and its 200-day simple moving average is $20.54. The firm has a market capitalization of $11.89 billion, a PE ratio of 62.44, a PEG ratio of 1.38 and a beta of 0.90. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, research analysts forecast that Pinterest, Inc. will post 0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 59,096 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $23.48, for a total value of $1,387,574.08. Following the completion of the transaction, the chief financial officer owned 817,409 shares of the company’s stock, valued at approximately $19,192,763.32. The trade was a 6.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $21.15, for a total transaction of $991,406.25. 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. Over the last ninety days, insiders have sold 508,469 shares of company stock worth $11,374,640. Corporate insiders own 8.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PINS. Snowden Capital Advisors LLC grew its position in Pinterest by 4.4% in the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after purchasing an additional 296 shares during the period. EP Wealth Advisors LLC lifted its holdings 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 valued at $340,000 after buying an additional 358 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Pinterest by 2.2% during 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 during the period. Coyle Financial Counsel LLC boosted its stake in shares of Pinterest by 5.9% in the 4th quarter. Coyle Financial Counsel LLC now owns 10,589 shares of the company’s stock worth $274,000 after buying an additional 587 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of Pinterest by 5.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock worth $339,000 after buying an additional 607 shares during the last quarter. 88.81% of the stock is 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.