Pinterest (NYSE:PINS) Stock Price Down 8.3% After Insider Selling

Pinterest, Inc. (NYSE:PINS)’s stock price fell 8.3% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $18.66 and last traded at $18.4650. Approximately 13,144,639 shares changed hands during trading, a decline of 22% from the average daily volume of 16,899,057 shares. The stock had previously closed at $20.14.

Specifically, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $20.07, for a total value of $940,781.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PINS. Barclays lifted their price target on Pinterest from $27.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. UBS Group raised their target price on shares of Pinterest from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of Pinterest from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Susquehanna reiterated a “positive” rating on shares of Pinterest in a report on Wednesday, August 5th. Finally, Jefferies Financial Group raised shares of Pinterest from a “hold” rating to a “buy” rating in a research report on Monday, August 31st. Eighteen investment analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.90.

Pinterest Trading Up 0.3%

The company has a market capitalization of $10.55 billion, a P/E ratio of 55.78, a P/E/G ratio of 1.20 and a beta of 0.90. The stock’s 50 day moving average is $22.74 and its 200-day moving average is $20.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 3.81.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.33 EPS. The business’s revenue was up 18.2% on a year-over-year basis. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently added to or reduced their stakes in the company. Forsta AP Fonden boosted its position in shares of Pinterest by 61.2% in the fourth quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock worth $10,289,000 after purchasing an additional 150,900 shares during the period. Amundi raised its position in shares of Pinterest by 38.3% during the 1st quarter. Amundi now owns 3,200,829 shares of the company’s stock valued at $58,703,000 after purchasing an additional 885,927 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Pinterest during the 4th quarter valued at $12,812,000. Freemont Management S.A. purchased a new position in shares of Pinterest during the 4th quarter valued at $2,540,000. Finally, Northwestern Mutual Investment Management Company LLC purchased a new position in shares of Pinterest during the 4th quarter valued at $3,451,000. Institutional investors own 88.81% of the company’s stock.

About Pinterest

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.