Pinterest, Inc. (NYSE:PINS) Sees Significant Increase in Short Interest

Pinterest, Inc. (NYSE:PINS) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 86,344,123 shares, a growth of 123.5% from the February 26th total of 38,630,865 shares. Currently, 14.0% of the company’s stock are sold short. Based on an average trading volume of 23,712,110 shares, the days-to-cover ratio is presently 3.6 days.

Insider Transactions at Pinterest

In other news, insider Malik Ducard sold 2,293 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total value of $50,583.58. Following the completion of the sale, the insider owned 695,187 shares in the company, valued at $15,335,825.22. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 5,636 shares of company stock worth $131,614. 7.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of PINS. N.E.W. Advisory Services LLC lifted its position in shares of 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 last quarter. Atlantic Union Bankshares Corp increased its holdings in Pinterest by 3,839.1% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after acquiring an additional 883 shares during the last quarter. Elevated Capital Advisors LLC purchased a new stake in Pinterest in the 4th quarter worth about $26,000. Caitong International Asset Management Co. Ltd raised its stake in Pinterest by 2,017.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after acquiring an additional 1,049 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Pinterest in the 2nd quarter valued at about $45,000. 88.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PINS has been the topic of several analyst reports. Evercore set a $25.00 price target on shares of Pinterest and gave the stock an “in-line” rating in a report on Friday, February 13th. Sanford C. Bernstein reissued an “outperform” rating and set a $20.00 target price on shares of Pinterest in a research report on Friday, February 13th. Oppenheimer cut their target price on Pinterest from $36.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Loop Capital downgraded Pinterest from a “buy” rating to a “hold” rating and decreased their price target for the company from $45.00 to $18.00 in a research report on Friday, February 13th. Finally, Mizuho set a $35.00 price target on Pinterest in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nineteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.61.

Pinterest Stock Performance

NYSE PINS opened at $17.77 on Friday. The company has a market capitalization of $11.82 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.17 and a beta of 0.93. Pinterest has a 52-week low of $13.84 and a 52-week high of $39.93. The company has a 50-day simple moving average of $19.65 and a 200 day simple moving average of $26.09.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts forecast that Pinterest will post 0.6 EPS for the current fiscal year.

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.