Pinterest (NYSE:PINS) Trading 6.4% Higher – Still a Buy?

Pinterest, Inc. (NYSE:PINS) traded up 6.4% during mid-day trading on Friday . The company traded as high as $17.77 and last traded at $17.8420. 11,187,126 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 18,220,918 shares. The stock had previously closed at $16.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 price target (down previously from $36.00) on shares of Pinterest in a report on Friday, February 13th. Bank of America reiterated a “neutral” rating and issued a $19.00 target price (down previously from $39.00) on shares of Pinterest in a research report on Friday, February 13th. Benchmark decreased their target price on shares of Pinterest from $39.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Loop Capital downgraded shares of Pinterest from a “buy” rating to a “hold” rating and dropped their price target for the stock from $45.00 to $18.00 in a research note on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft lowered Pinterest from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eighteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.87.

Pinterest Stock Up 5.8%

The business has a 50-day simple moving average of $23.62 and a 200-day simple moving average of $29.15. The stock has a market cap of $11.98 billion, a P/E ratio of 29.07, a PEG ratio of 1.25 and a beta of 0.92.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). The firm had revenue of $1.32 billion during 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%.The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. On average, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Malik Ducard sold 2,293 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total value of $50,583.58. Following the sale, the insider directly owned 695,187 shares in the company, valued at $15,335,825.22. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the transaction, the chief financial officer owned 540,358 shares in the company, valued at approximately $13,973,657.88. The trade was a 4.05% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 33,407 shares of company stock worth $855,925. 7.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Pinterest by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock worth $1,606,632,000 after purchasing an additional 1,069,646 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Pinterest by 15.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock worth $719,994,000 after purchasing an additional 3,669,476 shares during the period. Victory Capital Management Inc. lifted its position in Pinterest by 30.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after purchasing an additional 6,258,628 shares during the period. State Street Corp boosted its stake in Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after buying an additional 7,412,213 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Pinterest by 10.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company’s stock valued at $634,767,000 after buying an additional 1,913,668 shares during the period. 88.81% of the stock is currently owned by institutional investors.

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.