Pinterest (NYSE:PINS) Share Price Crosses Above 200-Day Moving Average After Insider Selling

Pinterest, Inc. (NYSE:PINS) shares passed above its 200-day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a 200-day moving average of $20.69 and traded as high as $21.60. Pinterest shares last traded at $21.2070, with a volume of 14,688,300 shares.

Analyst Ratings Changes

Several research firms recently commented on PINS. Phillip Securities upgraded Pinterest to a “strong-buy” rating in a research note on Monday, October 19th. Wedbush decreased their price target on Pinterest from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, October 30th. Sanford C. Bernstein reissued an “outperform” rating and set a $22.00 price objective on shares of Pinterest in a research report on Friday, October 30th. Zacks Research downgraded Pinterest from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Finally, Citigroup cut their price objective on Pinterest from $27.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Hold” and an average price target of $25.97.

Pinterest Trading Up 4.2%

The firm has a market cap of $11.88 billion, a P/E ratio of 84.83, a price-to-earnings-growth ratio of 1.46 and a beta of 0.98. The company’s fifty day moving average price is $20.46 and its two-hundred day moving average price is $20.69. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.32.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, October 29th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Pinterest had a net margin of 3.81% and a return on equity of 6.58%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Pinterest

A number of large investors have recently modified their holdings of the stock. Root Financial Partners LLC bought a new position in Pinterest in the 3rd quarter valued at $31,000. Reyes Financial Architecture Inc. acquired a new position in shares of Pinterest in the 3rd quarter valued at approximately $34,000. Summit Securities Group LLC acquired a new position in shares of Pinterest in the 1st quarter valued at approximately $43,000. Daytona Street Capital LLC bought a new stake in Pinterest during the 3rd quarter worth approximately $45,000. Finally, Provenance Wealth Advisors LLC bought a new stake in Pinterest during the 3rd quarter worth approximately $60,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Company Profile

Pinterest, Inc (NYSE: PINS) operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.