Pinterest (NYSE:PINS) Insider Sells $256,815.63 in Stock

Pinterest, Inc. (NYSE:PINS) insider Wanjiku Walcott sold 14,103 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $18.21, for a total value of $256,815.63. Following the sale, the insider owned 658,902 shares of the company’s stock, valued at approximately $11,998,605.42. This represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pinterest Stock Performance

Shares of NYSE PINS traded up $0.25 during trading hours on Thursday, reaching $18.70. 11,740,292 shares of the stock were exchanged, compared to its average volume of 16,997,105. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 55.01, a P/E/G ratio of 1.20 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.81 and a current ratio of 3.81. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $35.42. The stock’s fifty day simple moving average is $22.06 and its 200 day simple moving average is $20.77.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.33 EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. Sell-side analysts predict that Pinterest, Inc. will post 0.58 EPS for the current year.

Institutional Trading of Pinterest

Several large investors have recently made changes to their positions in the company. QRG Capital Management Inc. increased its stake in Pinterest by 96.5% in the second quarter. QRG Capital Management Inc. now owns 42,014 shares of the company’s stock valued at $884,000 after acquiring an additional 20,631 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Pinterest by 8.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 34,481 shares of the company’s stock valued at $725,000 after purchasing an additional 2,793 shares during the last quarter. Engineers Gate Manager LP increased its stake in shares of Pinterest by 89.7% in the 2nd quarter. Engineers Gate Manager LP now owns 183,035 shares of the company’s stock valued at $3,849,000 after purchasing an additional 86,560 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Pinterest by 15.0% during the 2nd quarter. NewEdge Advisors LLC now owns 87,223 shares of the company’s stock worth $1,834,000 after buying an additional 11,382 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Pinterest by 8.7% during the 2nd quarter. Allworth Financial LP now owns 16,941 shares of the company’s stock worth $356,000 after buying an additional 1,360 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PINS shares. Citigroup upped their price target on shares of Pinterest from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Pinterest from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Evercore increased their target price on shares of Pinterest from $27.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 5th. Wells Fargo & Company raised their target price on shares of Pinterest from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Guggenheim boosted their price target on Pinterest from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Eighteen analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.90.

Pinterest Company Profile

Pinterest, Inc (NYSE:PINS) operates a visual discovery and planning platform that helps people find ideas and inspiration across categories such as home design, food, fashion, travel and hobbies. Users can discover, save and organize images, videos and other content into collections called boards, as well as share ideas with others.

The company also provides tools for merchants, creators and advertisers. Businesses can use Pinterest to showcase products, reach audiences through visual advertising and direct users to websites or online shopping experiences.