Insider Selling: Pinterest, Inc. (NYSE:PINS) Insider Sells $219,766.50 in 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 stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Pinterest Stock Up 6.0 %

Shares of Pinterest stock opened at $33.27 on Thursday. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.95 and a beta of 1.02. The business has a 50-day moving average price of $34.32 and a 200-day moving average price of $32.27. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PINS shares. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 target price (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. The Goldman Sachs Group raised their target price on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Royal Bank of Canada raised their target price on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company raised their target price on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Wedbush raised their target price on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PINS. Van ECK Associates Corp grew its position in Pinterest by 30.5% in the third quarter. Van ECK Associates Corp now owns 83,418 shares of the company’s stock worth $2,631,000 after acquiring an additional 19,508 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Pinterest in the third quarter worth about $1,409,000. Atria Investments Inc grew its position in Pinterest by 4.0% in the third quarter. Atria Investments Inc now owns 26,686 shares of the company’s stock worth $864,000 after acquiring an additional 1,034 shares in the last quarter. Covestor Ltd grew its position in Pinterest by 36.1% in the third quarter. Covestor Ltd now owns 4,678 shares of the company’s stock worth $151,000 after acquiring an additional 1,241 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in Pinterest by 9.5% in the third quarter. Axxcess Wealth Management LLC now owns 6,965 shares of the company’s stock worth $225,000 after purchasing an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.