Pinterest, Inc. (NYSE:PINS) Short Interest Up 123.5% in March

Pinterest, Inc. (NYSE:PINS) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 86,344,123 shares, an increase of 123.5% from the February 26th total of 38,630,865 shares. Currently, 14.0% of the shares of the stock are sold short. Based on an average daily volume of 23,712,110 shares, the short-interest ratio is presently 3.6 days.

Pinterest Stock Down 3.8%

Pinterest stock traded down $0.72 during midday trading on Thursday, hitting $17.96. 18,756,444 shares of the stock were exchanged, compared to its average volume of 19,874,768. The stock has a market capitalization of $11.95 billion, a PE ratio of 29.45, a P/E/G ratio of 1.20 and a beta of 0.93. The company has a fifty day simple moving average of $19.99 and a two-hundred day simple moving average of $26.29. Pinterest has a 52 week low of $13.84 and a 52 week high of $39.93.

Pinterest (NYSE:PINS) last issued 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 net margin of 9.87% and a return on equity of 7.95%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. As a group, equities research analysts anticipate that Pinterest will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut Pinterest from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Friday, February 13th. Zacks Research raised Pinterest from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. HSBC lowered Pinterest from a “buy” rating to a “hold” rating and set a $24.90 price objective for the company. in a research report on Friday, January 30th. Wolfe Research set a $33.00 price objective on Pinterest and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, Guggenheim cut their target price on shares of Pinterest from $38.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.61.

Insider Buying and Selling at Pinterest

In related news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 695,187 shares in the company, valued at $15,335,825.22. The trade was 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. Insiders have sold a total of 5,636 shares of company stock valued at $131,614 over the last three months. Company insiders own 7.06% of the company’s stock.

Institutional Trading of Pinterest

Several hedge funds have recently added to or reduced their stakes in the business. Elevated Capital Advisors LLC acquired a new position in Pinterest in the fourth quarter valued at about $26,000. N.E.W. Advisory Services LLC raised its position in shares of Pinterest by 505.7% during the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock worth $27,000 after purchasing an additional 713 shares during the period. Atlantic Union Bankshares Corp raised its position in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after purchasing an additional 883 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Addison Advisors LLC lifted its holdings in shares of Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock valued at $35,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.