Pinterest (NYSE:PINS) Reaches New 1-Year Low – What’s Next?

Pinterest, Inc. (NYSE:PINS) hit a new 52-week low on Tuesday . The company traded as low as $23.66 and last traded at $23.8090, with a volume of 9143055 shares traded. The stock had previously closed at $25.90.

Analyst Upgrades and Downgrades

Several brokerages have commented on PINS. Monness Crespi & Hardt downgraded Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Citigroup reaffirmed a “buy” rating on shares of Pinterest in a research report on Wednesday, November 5th. Roth Mkm decreased their target price on Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Piper Sandler restated a “neutral” rating and set a $33.00 target price (down previously from $35.00) on shares of Pinterest in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Pinterest from $44.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.64.

Pinterest Trading Down 9.7%

The company’s 50 day moving average price is $26.24 and its two-hundred day moving average price is $31.53. The firm has a market cap of $15.79 billion, a PE ratio of 8.13, a PEG ratio of 1.23 and a beta of 0.91.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business posted $0.40 earnings per share. Pinterest’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In related news, insider Malik Ducard sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $155,160.00. Following the completion of the sale, the insider directly owned 699,773 shares of the company’s stock, valued at approximately $18,096,129.78. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the transaction, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. This represents a 4.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 105,161 shares of company stock worth $2,796,466. 7.11% of the stock is owned by company insiders.

Institutional Trading of Pinterest

Several hedge funds have recently bought and sold shares of PINS. Golden State Wealth Management LLC raised its position in Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after purchasing an additional 506 shares during the period. N.E.W. Advisory Services LLC raised its holdings in Pinterest by 505.7% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after buying an additional 713 shares during the period. Atlantic Union Bankshares Corp raised its holdings in Pinterest by 3,839.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after buying an additional 883 shares during the period. Elevated Capital Advisors LLC bought a new stake in Pinterest in the fourth quarter worth $26,000. Finally, Wellington Shields Capital Management LLC purchased a new position in Pinterest during the second quarter worth $40,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.