Claude Leonard Brown Sells 12,240 Shares of Pinterest (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) insider Claude Leonard Brown sold 12,240 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $23.88, for a total value of $292,291.20. Following the transaction, the insider directly owned 1,206,834 shares in the company, valued at approximately $28,819,195.92. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pinterest Stock Down 3.5%

Pinterest stock traded down $0.82 during mid-day trading on Wednesday, reaching $22.93. The stock had a trading volume of 10,742,259 shares, compared to its average volume of 17,750,107. The firm has a market capitalization of $12.84 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 1.28 and a beta of 0.90. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $38.57. The stock’s 50-day simple moving average is $22.23 and its 200-day simple moving average is $20.42. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.81 and a current ratio of 3.81.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. Pinterest’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PINS shares. Evercore lifted their price objective on shares of Pinterest from $27.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 5th. Wedbush reaffirmed a “neutral” rating and issued a $24.00 price target on shares of Pinterest in a research report on Wednesday, August 5th. Oppenheimer lifted their price target on Pinterest from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Rosenblatt Securities boosted their price objective on Pinterest from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. increased their price objective on Pinterest from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Forsta AP Fonden increased its stake in Pinterest by 61.2% in the 4th quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock valued at $10,289,000 after buying an additional 150,900 shares during the last quarter. Amundi boosted its stake in shares of Pinterest by 38.3% in the 1st quarter. Amundi now owns 3,200,829 shares of the company’s stock worth $58,703,000 after buying an additional 885,927 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Pinterest in the fourth quarter valued at approximately $12,812,000. KLP Kapitalforvaltning AS grew its holdings in shares of Pinterest by 103.4% in the fourth quarter. KLP Kapitalforvaltning AS now owns 838,500 shares of the company’s stock valued at $21,709,000 after acquiring an additional 426,300 shares in the last quarter. Finally, Freemont Management S.A. purchased a new stake in shares of Pinterest during the fourth quarter valued at approximately $2,540,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Company Profile

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.