Pinterest (NYSE:PINS) Shares Gap Down – Here’s What Happened

Pinterest, Inc. (NYSE:PINS)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $33.48, but opened at $32.80. Pinterest shares last traded at $33.20, with a volume of 1,282,125 shares trading hands.

Analysts Set New Price Targets

Several brokerages have issued reports on PINS. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Pinterest in a report on Tuesday. Oppenheimer dropped their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group restated a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Morgan Stanley lifted their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Rosenblatt Securities reduced their target price on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $40.70.

Pinterest Trading Up 1.0 %

The stock has a market cap of $22.46 billion, a price-to-earnings ratio of 110.77, a P/E/G ratio of 1.61 and a beta of 1.04. The stock’s 50-day moving average is $30.88 and its 200-day moving average is $31.83.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $589,131 over the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Pinterest in the third quarter worth $37,000. Crewe Advisors LLC raised its holdings in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares in the last quarter. True Wealth Design LLC boosted its stake in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 shares during the last quarter. Finally, Rakuten Securities Inc. grew its holdings in Pinterest by 44.2% during the 3rd quarter. Rakuten Securities Inc. now owns 2,294 shares of the company’s stock worth $74,000 after acquiring an additional 703 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Company Profile

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.