Investors Purchase High Volume of Call Options on Pinterest (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) was the target of some unusual options trading activity on Friday. Stock investors purchased 50,559 call options on the company. This represents an increase of approximately 48% compared to the average volume of 34,166 call options.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PINS shares. Guggenheim cut their target price on Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. The Goldman Sachs Group dropped their target price on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Monness Crespi & Hardt cut shares of Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 5th. Benchmark dropped their target price on shares of Pinterest from $48.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Piper Sandler restated a “neutral” rating and issued a $33.00 price target (down previously from $35.00) on shares of Pinterest in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.97.

Pinterest Trading Up 3.0%

PINS traded up $0.78 on Friday, reaching $26.67. The stock had a trading volume of 10,351,898 shares, compared to its average volume of 16,193,310. The company has a market cap of $18.02 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 1.64 and a beta of 0.91. The business’s 50-day moving average price is $27.40 and its two-hundred day moving average price is $32.64. Pinterest has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. As a group, analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the sale, the chief financial officer owned 540,358 shares in the company, valued at $13,973,657.88. This represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Malik Ducard sold 6,000 shares of the stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $155,160.00. Following the completion of the sale, the insider owned 699,773 shares of the company’s stock, valued at approximately $18,096,129.78. The trade was a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 102,868 shares of company stock valued at $2,736,435 over the last 90 days. 7.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pinterest

Hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC grew its position in shares of Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after buying an additional 506 shares during the last quarter. N.E.W. Advisory Services LLC boosted its stake 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 purchasing an additional 713 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake 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 acquiring an additional 883 shares in the last quarter. West Branch Capital LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $36,000. Finally, Wellington Shields Capital Management LLC bought a new position in shares of Pinterest during the 2nd quarter valued at approximately $40,000. 88.81% of the stock is owned by institutional investors and hedge funds.

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.