Pinterest (NYSE:PINS) Hits New 1-Year Low at $18.38

Shares of Pinterest (NYSE:PINS) reached a new 52-week low during trading on Wednesday . The stock traded as low as $18.38 and last traded at $18.55, with a volume of 1547049 shares changing hands. The stock had previously closed at $18.43.

A number of analysts have recently weighed in on PINS shares. Rosenblatt Securities restated a “neutral” rating and issued a $23.00 price target (down from $31.00) on shares of Pinterest in a report on Friday, November 1st. DA Davidson upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Friday, November 1st. Susquehanna Bancshares lowered their price objective on Pinterest from $36.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Zacks Investment Research downgraded Pinterest from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, MKM Partners reduced their target price on Pinterest from $29.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.17.

The business has a fifty day moving average price of $21.91 and a two-hundred day moving average price of $26.97. The company has a quick ratio of 13.75, a current ratio of 13.75 and a debt-to-equity ratio of 0.08.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, October 31st. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.16. The firm had revenue of $279.70 million for the quarter, compared to analyst estimates of $282.09 million. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. Sell-side analysts anticipate that Pinterest will post -3.38 EPS for the current fiscal year.

In other Pinterest news, CFO Todd R. Morgenfeld sold 65,833 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $20.37, for a total transaction of $1,341,018.21. Following the sale, the chief financial officer now directly owns 368,111 shares of the company’s stock, valued at approximately $7,498,421.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Benjamin Silbermann sold 66,500 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $20.64, for a total value of $1,372,560.00. Following the sale, the chief executive officer now directly owns 66,500 shares in the company, valued at $1,372,560. The disclosure for this sale can be found here. In the last quarter, insiders sold 416,416 shares of company stock worth $8,254,042.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NEXT Financial Group Inc grew its position in Pinterest by 376.0% during the third quarter. NEXT Financial Group Inc now owns 952 shares of the company’s stock valued at $25,000 after buying an additional 752 shares during the period. Flagship Harbor Advisors LLC grew its position in shares of Pinterest by 73.5% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,062 shares of the company’s stock valued at $28,000 after acquiring an additional 450 shares during the period. Endurance Wealth Management Inc. acquired a new stake in shares of Pinterest during the 3rd quarter valued at about $30,000. Weaver Consulting Group purchased a new position in shares of Pinterest in the 3rd quarter valued at about $31,000. Finally, Pathstone Family Office LLC purchased a new position in shares of Pinterest in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 21.65% of the company’s stock.

About Pinterest (NYSE:PINS)

Pinterest, Inc provides a visual discovery engine that helps users to discover ideas for various projects and interests worldwide. Its platform allows users to discover ideas for daily activities, remodeling a house or training for a marathon, ongoing passions, and planning a wedding or a dream vacation.

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