Pinterest (NYSE:PINS) Stock Price Down 8.3% – Here’s Why

Pinterest, Inc. (NYSE:PINS)’s share price fell 8.3% during mid-day trading on Wednesday . The stock traded as low as $18.66 and last traded at $18.4650. 13,144,639 shares changed hands during trading, a decline of 22% from the average daily volume of 16,899,057 shares. The stock had previously closed at $20.14.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Mizuho upped their price objective on Pinterest from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Citigroup upped their target price on Pinterest from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Pinterest in a research note on Wednesday, August 5th. DA Davidson increased their price target on shares of Pinterest from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Guggenheim raised their price target on Pinterest from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Eighteen investment analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Hold” and a consensus price target of $27.90.

Pinterest Stock Down 7.7%

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 firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 54.75, a P/E/G ratio of 1.34 and a beta of 0.90. The business’s 50-day moving average is $22.88 and its two-hundred day moving average is $20.70.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.Pinterest’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. On average, equities analysts anticipate that Pinterest, Inc. will post 0.58 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, CFO Julia Donnelly 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 $19,192,763.32. The trade was a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Walcott sold 14,208 shares of Pinterest stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $279,187.20. Following the completion of the transaction, the insider directly owned 691,840 shares in the company, valued at $13,594,656. This trade represents a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 555,344 shares of company stock valued at $12,362,765. 8.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PINS. Snowden Capital Advisors LLC increased its position in Pinterest by 4.4% during 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 in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after buying an additional 358 shares during the last quarter. CIBC Asset Management Inc increased its position in Pinterest by 2.2% in the 4th quarter. CIBC Asset Management Inc now owns 26,434 shares of the company’s stock valued at $684,000 after acquiring an additional 560 shares during the period. Coyle Financial Counsel LLC lifted its holdings in Pinterest by 5.9% during 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 period. Finally, Integrated Wealth Concepts LLC lifted its position 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 purchasing an additional 607 shares during the period. Institutional investors own 88.81% of the company’s stock.

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.