Pinterest (NYSE:PINS) Shares Gap Down – Time to Sell?

Pinterest, Inc. (NYSE:PINS)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $33.03, but opened at $31.53. Pinterest shares last traded at $31.75, with a volume of 2,183,230 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Evercore ISI reduced their price objective on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. KeyCorp increased their price target on shares of Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Stifel Nicolaus cut their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price target on shares of Pinterest in a report on Friday, September 13th. Finally, Morgan Stanley increased their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.32.

Pinterest Trading Down 5.2 %

The firm has a fifty day moving average price of $31.58 and a 200 day moving average price of $36.48. The firm has a market cap of $21.40 billion, a PE ratio of 157.31, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same quarter in the previous year, the firm earned ($0.04) EPS. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities analysts predict that Pinterest, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several hedge funds and other institutional investors have recently made changes to their positions in PINS. 1832 Asset Management L.P. purchased a new position in shares of Pinterest in the 2nd quarter valued at about $98,655,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after purchasing an additional 1,798,494 shares during the last quarter. Ninety One UK Ltd lifted its stake in Pinterest by 44.6% during the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after purchasing an additional 1,679,348 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Pinterest by 66.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock worth $145,594,000 after purchasing an additional 1,678,756 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Pinterest by 31.6% during the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after purchasing an additional 1,356,459 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.