Insider Selling: Pinterest (NYSE:PINS) Director Sells $21,000.00 in Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,050 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $20.00, for a total transaction of $21,000.00. Following the completion of the transaction, the director owned 29,550 shares in the company, valued at $591,000. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Pinterest Stock Up 0.0%

Shares of NYSE:PINS opened at $19.37 on Thursday. The business’s 50 day moving average is $21.66 and its 200 day moving average is $27.56. The stock has a market cap of $12.88 billion, a P/E ratio of 31.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.93. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.Pinterest’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PINS shares. Rosenblatt Securities restated a “neutral” rating and set a $20.00 price objective on shares of Pinterest in a report on Wednesday, March 4th. HSBC lowered Pinterest from a “buy” rating to a “hold” rating and set a $24.90 target price for the company. in a research note on Friday, January 30th. Citigroup downgraded Pinterest from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $38.00 to $19.00 in a report on Friday, February 13th. Guggenheim cut their price target on shares of Pinterest from $38.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Pinterest from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nineteen have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.87.

Institutional Investors Weigh In On Pinterest

Institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its holdings in Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after acquiring an additional 506 shares in the last quarter. Elevated Capital Advisors LLC purchased a new position in Pinterest during the fourth quarter valued at $26,000. N.E.W. Advisory Services LLC grew its position in shares of Pinterest by 505.7% in the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after purchasing an additional 713 shares during the period. Atlantic Union Bankshares Corp increased its stake in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after purchasing an additional 883 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of 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 during the last quarter. Institutional investors and hedge funds 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.