Pinterest (NYSE:PINS) Insider Claude Leonard Brown Sells 12,240 Shares

Pinterest, Inc. (NYSE:PINS) insider Claude Leonard Brown sold 12,240 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $23.88, for a total transaction of $292,291.20. Following the sale, the insider directly owned 1,206,834 shares of the company’s stock, valued at $28,819,195.92. This represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pinterest Stock Down 3.5%

Shares of NYSE PINS opened at $22.93 on Thursday. The company has a market capitalization of $12.84 billion, a P/E ratio of 67.44, a price-to-earnings-growth ratio of 1.27 and a beta of 0.90. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $38.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.81 and a current ratio of 3.81. The company’s 50 day moving average price is $22.28 and its 200-day moving average price is $20.41.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company posted $0.33 earnings per share. Pinterest’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts forecast that Pinterest, Inc. will post 0.62 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PINS. Rosenblatt Securities boosted their price objective on Pinterest from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Susquehanna reaffirmed a “positive” rating on shares of Pinterest in a research note on Wednesday, August 5th. TD Cowen reiterated a “buy” rating on shares of Pinterest in a report on Monday, June 22nd. JPMorgan Chase & Co. boosted their price target on Pinterest from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Barclays increased their price target on Pinterest from $27.00 to $31.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Seventeen analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.90.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Elevated Capital Advisors LLC bought a new position in Pinterest in the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its holdings in Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after purchasing an additional 1,049 shares in the last quarter. Addison Advisors LLC increased its holdings in Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares in the last quarter. Garner Asset Management Corp purchased a new stake in shares of Pinterest in the fourth quarter worth approximately $36,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Pinterest in the first quarter worth approximately $43,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.