Matthew Madrigal Sells 20,000 Shares of Pinterest, Inc. (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS - Get Free Report) CTO Matthew Madrigal sold 20,000 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $38.58, for a total transaction of $771,600.00. Following the completion of the transaction, the chief technology officer owned 428,823 shares in the company, valued at approximately $16,543,991.34. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Pinterest Trading Up 0.4%

NYSE:PINS traded up $0.16 during midday trading on Friday, reaching $37.83. The company had a trading volume of 1,921,810 shares, compared to its average volume of 11,749,334. The firm has a market capitalization of $25.65 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.84 and a beta of 0.94. The stock's fifty day simple moving average is $34.54 and its 200-day simple moving average is $32.55. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business's revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PINS shares. Benchmark increased their target price on shares of Pinterest from $45.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday. KeyCorp lifted their price target on shares of Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Barclays dropped their price objective on Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Raymond James Financial cut Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Finally, Guggenheim lowered their price objective on Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $41.81.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC increased its position in Pinterest by 16.5% during the 2nd quarter. TD Private Client Wealth LLC now owns 2,623 shares of the company's stock worth $94,000 after purchasing an additional 371 shares during the period. Riverpark Capital Management LLC lifted its stake in Pinterest by 1.2% in the 1st quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company's stock valued at $987,000 after buying an additional 377 shares in the last quarter. Optas LLC increased its holdings in shares of Pinterest by 1.9% during the 2nd quarter. Optas LLC now owns 23,315 shares of the company's stock worth $836,000 after buying an additional 442 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Pinterest by 18.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $96,000 after buying an additional 476 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. increased its holdings in shares of Pinterest by 1.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 35,941 shares of the company's stock worth $1,289,000 after buying an additional 485 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Company Profile

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.