Pinterest (NYSE:PINS) Hits New 52-Week Low Following Analyst Downgrade

Pinterest, Inc. (NYSE:PINS)’s share price reached a new 52-week low on Thursday after Benchmark lowered their price target on the stock from $39.00 to $34.00. Benchmark currently has a buy rating on the stock. Pinterest traded as low as $18.84 and last traded at $18.8770, with a volume of 2152945 shares trading hands. The stock had previously closed at $19.09.

PINS has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price objective on Pinterest from $44.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. The Goldman Sachs Group dropped their target price on Pinterest from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Morgan Stanley raised their price target on Pinterest from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Mizuho set a $35.00 price objective on Pinterest in a research note on Tuesday, February 3rd. Finally, Monness Crespi & Hardt downgraded Pinterest from a “buy” rating to a “neutral” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus target price of $36.78.

Insider Buying and Selling at Pinterest

In other news, insider Malik Ducard sold 6,000 shares of Pinterest stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $155,160.00. Following the completion of the sale, the insider owned 699,773 shares of the company’s stock, valued at approximately $18,096,129.78. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the transaction, the chief financial officer owned 540,358 shares in the company, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,407 shares of company stock worth $855,925 in the last quarter. Company insiders own 7.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC boosted its stake in shares of Pinterest by 282.7% in the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after buying an additional 506 shares during the period. Elevated Capital Advisors LLC bought a new stake in shares of Pinterest during the 4th quarter valued at $26,000. N.E.W. Advisory Services LLC lifted its position in shares of Pinterest by 505.7% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after acquiring an additional 713 shares during the period. Atlantic Union Bankshares Corp lifted its position in shares of Pinterest by 3,839.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after acquiring an additional 883 shares during the period. Finally, Addison Advisors LLC grew its holdings in shares of 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. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

The company has a market cap of $12.74 billion, a P/E ratio of 6.55, a PEG ratio of 0.89 and a beta of 0.92. The stock has a 50-day moving average of $25.08 and a 200 day moving average of $30.23.

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.