Pinterest (NYSE:PINS) Sets New 1-Year Low on Insider Selling

Pinterest, Inc. (NYSE:PINS) hit a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $26.95 and last traded at $27.06, with a volume of 9522666 shares changing hands. The stock had previously closed at $31.38.

Specifically, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total value of $3,192,135.41. Following the completion of the sale, the director now directly owns 6,274 shares of the company’s stock, valued at $196,187.98. This represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Raymond James raised their price target on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price objective (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. KeyCorp dropped their price target on Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company decreased their price objective on Pinterest from $47.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Finally, The Goldman Sachs Group boosted their price objective on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and an average target price of $43.17.

Pinterest Stock Down 6.3 %

The stock has a 50-day simple moving average of $34.40 and a two-hundred day simple moving average of $32.38. The firm has a market cap of $17.49 billion, a PE ratio of 9.58, a P/E/G ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Institutional Investors Weigh In On Pinterest

Institutional investors have recently made changes to their positions in the business. Whipplewood Advisors LLC purchased a new stake in Pinterest during the fourth quarter valued at about $28,000. GAMMA Investing LLC boosted its holdings in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the period. Strategic Investment Solutions Inc. IL grew its position in Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock worth $44,000 after acquiring an additional 1,204 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Pinterest by 51.5% in the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after purchasing an additional 590 shares during the period. Finally, Huntington National Bank boosted its stake in shares of Pinterest by 484.1% during the fourth quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after purchasing an additional 1,680 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.