Insider Selling: Pinterest (NYSE:PINS) Director Sells 1,050 Shares of Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,050 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $20.00, for a total value of $21,000.00. Following the sale, the director owned 29,550 shares of the company’s stock, valued at approximately $591,000. This trade represents a 3.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Pinterest Stock Down 1.6%

Shares of PINS traded down $0.33 during trading on Monday, reaching $19.68. The company’s stock had a trading volume of 22,299,222 shares, compared to its average volume of 24,691,604. The company has a fifty day moving average of $21.92 and a two-hundred day moving average of $27.73. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 1.32 and a beta of 0.93.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. As a group, equities analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its stake in Pinterest by 30.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock valued at $33,333,000 after buying an additional 241,527 shares during the last quarter. Peak Retirement Planning Inc. acquired a new position in shares of Pinterest during the third quarter valued at $1,850,000. Allspring Global Investments Holdings LLC grew its position in shares of Pinterest by 15.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock worth $26,600,000 after acquiring an additional 110,089 shares during the last quarter. Renaissance Group LLC increased its holdings in shares of Pinterest by 4.5% in the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock worth $36,548,000 after acquiring an additional 43,541 shares during the period. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Pinterest by 50,133.2% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 255,687 shares of the company’s stock worth $8,225,000 after acquiring an additional 255,178 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PINS has been the subject of several research analyst reports. BMO Capital Markets set a $28.00 target price on shares of Pinterest and gave the stock an “outperform” rating in a research report on Friday, February 13th. Argus downgraded Pinterest from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $23.00 price objective on shares of Pinterest in a report on Friday, February 13th. Benchmark cut their price objective on Pinterest from $39.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Finally, Loop Capital downgraded Pinterest from a “buy” rating to a “hold” rating and reduced their target price for the stock from $45.00 to $18.00 in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.87.

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.