Insider Selling: Pinterest, Inc. (NYSE:PINS) Insider Sells 6,690 Shares of Stock

Pinterest, Inc. (NYSE:PINS) insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Pinterest Stock Down 7.2 %

Shares of NYSE:PINS traded down $2.46 during trading on Monday, hitting $31.85. 17,830,953 shares of the company were exchanged, compared to its average volume of 9,636,751. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The company has a market capitalization of $21.60 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The business’s 50 day moving average is $34.18 and its 200-day moving average is $32.27.

Pinterest (NYSE:PINS) last posted 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%. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after buying an additional 12,986,310 shares during the period. Ameriprise Financial Inc. lifted its holdings in Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after buying an additional 4,527,902 shares during the period. State Street Corp lifted its holdings in Pinterest by 1.2% in the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after buying an additional 156,748 shares during the period. FMR LLC boosted its position in Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock valued at $365,381,000 after acquiring an additional 316,633 shares during the last quarter. Finally, Norges Bank acquired a new stake in Pinterest during the 4th quarter worth about $358,205,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PINS has been the topic of several recent analyst reports. Oppenheimer boosted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Piper Sandler reissued a “neutral” rating and set a $41.00 target price (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Raymond James raised their price target on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, February 7th. KeyCorp upped their price objective on shares of Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Morgan Stanley raised their target price on shares of Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.47.

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.