Rep. Sells Off Shares of Pinterest, Inc. (NYSE:PINS)

Representative (Democratic-Texas) recently sold shares of Pinterest, Inc. (NYSE:PINS). In a filing disclosed on June 01st, the Representative disclosed that they had sold between $15,001 and $50,000 in Pinterest stock on May 28th.

Pinterest Stock Performance

Shares of PINS stock opened at $20.86 on Wednesday. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $19.45 and a two-hundred day simple moving average of $21.89. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93. The firm has a market capitalization of $11.69 billion, a PE ratio of 43.47, a price-to-earnings-growth ratio of 1.15 and a beta of 0.92.

Pinterest (NYSE:PINS) last posted its earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. During the same quarter last year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts forecast that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 27,337 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $20.46, for a total transaction of $559,315.02. Following the sale, the insider owned 724,673 shares in the company, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the sale, the director directly owned 27,450 shares of the company’s stock, valued at $549,000. This represents a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,537 shares of company stock worth $643,315 over the last ninety days. 8.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho upped their price objective on Pinterest from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. boosted their price target on shares of Pinterest from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Evercore set a $27.00 price target on shares of Pinterest in a research report on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Pinterest in a research report on Tuesday, May 5th. Finally, UBS Group boosted their target price on shares of Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Pinterest currently has an average rating of “Hold” and a consensus target price of $27.40.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of the company. Snowden Capital Advisors LLC increased its stake in Pinterest by 4.4% in the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after acquiring an additional 296 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Pinterest by 3.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after acquiring an additional 358 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Pinterest by 0.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company’s stock worth $2,484,000 after purchasing an additional 464 shares in the last quarter. Simon Quick Advisors LLC grew its holdings in shares of Pinterest by 5.5% during the fourth quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock worth $265,000 after purchasing an additional 535 shares in the last quarter. Finally, Coyle Financial Counsel LLC increased its position in shares of Pinterest by 5.8% in the third quarter. Coyle Financial Counsel LLC now owns 10,002 shares of the company’s stock worth $322,000 after purchasing an additional 551 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

About Representative

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.