Insider Selling: Pinterest (NYSE:PINS) Insider Sells $1,991,123.83 in Stock

Pinterest, Inc. (NYSE:PINS) insider Wanjiku Juanita Walcott sold 74,047 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares in the company, valued at approximately $8,099,644.46. This trade represents a 19.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Pinterest Trading Down 0.6%

PINS stock opened at $26.62 on Friday. The firm has a 50 day simple moving average of $32.57 and a 200-day simple moving average of $33.89. The company has a market capitalization of $17.98 billion, a P/E ratio of 9.24, a PEG ratio of 1.57 and a beta of 0.96. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business had revenue of $665.93 million for the quarter. On average, research analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Pinterest in the second quarter worth approximately $477,853,000. Amundi lifted its position in Pinterest by 618.9% in the 1st quarter. Amundi now owns 14,254,741 shares of the company’s stock worth $441,897,000 after buying an additional 12,271,958 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Pinterest by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock valued at $988,662,000 after buying an additional 6,460,143 shares during the period. Swedbank AB boosted its stake in shares of Pinterest by 344.0% during the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock valued at $181,024,000 after buying an additional 4,524,433 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Pinterest by 1,138.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock valued at $165,012,000 after acquiring an additional 4,230,125 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Oppenheimer reiterated an “outperform” rating on shares of Pinterest in a research report on Friday, August 8th. Evercore ISI reduced their price target on Pinterest from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings began coverage on Pinterest in a report on Saturday, November 1st. They set a “hold (c+)” rating on the stock. Barclays cut their price objective on shares of Pinterest from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Finally, Monness Crespi & Hardt lowered shares of Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $39.55.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.