Rep. Sells Off Shares of Pinterest, Inc. (NYSE:PINS)

Representative (Democratic-Texas) recently sold shares of Pinterest, Inc. (NYSE:PINS). In a filing disclosed on June 01st, the Representative disclosed that they had sold between $15,001 and $50,000 in Pinterest stock on May 28th.

Pinterest Stock Down 2.3%

PINS opened at $20.86 on Wednesday. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm has a market cap of $11.69 billion, a P/E ratio of 43.47, a PEG ratio of 1.15 and a beta of 0.92. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93. The business’s fifty day simple moving average is $19.45 and its 200 day simple moving average is $21.89.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the transaction, the director owned 27,450 shares in the company, valued at $549,000. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the transaction, the insider owned 724,673 shares of the company’s stock, valued at $14,826,809.58. This represents a 3.64% decrease in their position. 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 quarter, insiders sold 31,537 shares of company stock valued at $643,315. Insiders own 8.09% of the company’s stock.

Wall Street Analysts Forecast Growth

PINS has been the topic of a number of research analyst reports. Cantor Fitzgerald set a $18.00 price target on Pinterest in a research note on Friday, February 13th. Wells Fargo & Company raised their price objective on Pinterest from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on Pinterest from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. The Goldman Sachs Group restated a “buy” rating and issued a $28.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. Finally, Bank of America restated a “neutral” rating and issued a $19.00 price objective (down from $39.00) on shares of Pinterest in a report on Friday, February 13th. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.40.

Institutional Investors Weigh In On Pinterest

Several hedge funds and other institutional investors have recently bought and sold shares of PINS. Elevated Capital Advisors LLC acquired a new position in shares of Pinterest in the 4th quarter worth approximately $26,000. Atlantic Union Bankshares Corp grew its position in shares of Pinterest by 3,839.1% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after acquiring an additional 883 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Pinterest by 2,017.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after acquiring an additional 1,049 shares in the last quarter. Addison Advisors LLC grew its position in shares of Pinterest by 727.3% in the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Garner Asset Management Corp acquired a new position in shares of Pinterest in the 4th quarter worth approximately $36,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

About Representative

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.