Pinterest (NYSE:PINS) Shares Gap Down Following Analyst Downgrade

Shares of Pinterest, Inc. (NYSE:PINS) gapped down before the market opened on Thursday after KeyCorp lowered their price target on the stock from $48.00 to $40.00. The stock had previously closed at $32.85, but opened at $31.07. KeyCorp currently has an overweight rating on the stock. Pinterest shares last traded at $31.97, with a volume of 4,482,310 shares traded.

Other equities research analysts also recently issued reports about the stock. Wedbush boosted their price target on shares of Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Royal Bank of Canada boosted their price target on shares of Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Susquehanna boosted their price target on shares of Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Stifel Nicolaus boosted their price target on shares of Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Finally, Roth Mkm upped their target price on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $37.68.

Insider Activity

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,471 shares of company stock worth $6,525,231. Corporate insiders own 6.85% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of large investors have recently bought and sold shares of PINS. GAMMA Investing LLC purchased a new position in shares of Pinterest in the 4th quarter valued at about $27,000. Rakuten Securities Inc. acquired a new stake in Pinterest in the 4th quarter valued at about $30,000. Washington Trust Advisors Inc. grew its stake in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the last quarter. Clear Street Markets LLC acquired a new stake in Pinterest in the 3rd quarter valued at about $41,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Pinterest in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Trading Down 2.7 %

The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of -547.41, a PEG ratio of 4.53 and a beta of 0.99. The stock’s 50 day moving average is $34.68 and its 200 day moving average is $34.16.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.36 EPS for the current year.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.