Pinterest (NYSE:PINS) Trading Down 8.3% on Insider Selling

Pinterest, Inc. (NYSE:PINS) was down 8.3% on Wednesday after an insider sold shares in the company. The company traded as low as $18.66 and last traded at $18.4650. 13,144,639 shares were traded during trading, a decline of 22% from the average session volume of 16,899,057 shares. The stock had previously closed at $20.14.

Specifically, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $20.07, for a total value of $940,781.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PINS shares. Wedbush reissued a “neutral” rating and issued a $24.00 target price on shares of Pinterest in a research note on Wednesday, August 5th. UBS Group lifted their price target on Pinterest from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Morgan Stanley upped their price target on shares of Pinterest from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their price objective on shares of Pinterest from $23.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Finally, Robert W. Baird raised their price objective on shares of Pinterest from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Eighteen investment analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.90.

Pinterest Stock Up 2.7%

The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34. The firm has a market cap of $10.52 billion, a P/E ratio of 55.21, a PEG ratio of 1.20 and a beta of 0.90. The company’s 50 day simple moving average is $22.74 and its 200-day simple moving average is $20.72.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Research analysts forecast that Pinterest, Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of Pinterest

A number of hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in shares of Pinterest by 8.8% in the second quarter. Sequoia Financial Advisors LLC now owns 34,481 shares of the company’s stock worth $725,000 after buying an additional 2,793 shares during the last quarter. Engineers Gate Manager LP increased its holdings in Pinterest by 89.7% during the second quarter. Engineers Gate Manager LP now owns 183,035 shares of the company’s stock valued at $3,849,000 after buying an additional 86,560 shares during the last quarter. NewEdge Advisors LLC raised its position in Pinterest by 15.0% in the second quarter. NewEdge Advisors LLC now owns 87,223 shares of the company’s stock worth $1,834,000 after acquiring an additional 11,382 shares during the period. Allworth Financial LP raised its position in Pinterest by 8.7% in the second quarter. Allworth Financial LP now owns 16,941 shares of the company’s stock worth $356,000 after acquiring an additional 1,360 shares during the period. Finally, Nykredit A S purchased a new position in shares of Pinterest during the 2nd quarter worth $1,435,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc (NYSE:PINS) operates a visual discovery and planning platform that helps people find ideas and inspiration across categories such as home design, food, fashion, travel and hobbies. Users can discover, save and organize images, videos and other content into collections called boards, as well as share ideas with others.

The company also provides tools for merchants, creators and advertisers. Businesses can use Pinterest to showcase products, reach audiences through visual advertising and direct users to websites or online shopping experiences.