Shares of Pinterest, Inc. (NYSE:PINS - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $37.11, but opened at $38.84. Pinterest shares last traded at $38.12, with a volume of 2,150,287 shares changing hands.
Analyst Ratings Changes
Several research firms have recently commented on PINS. Benchmark reduced their price objective on Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. UBS Group increased their price objective on shares of Pinterest from $44.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Monness Crespi & Hardt reduced their target price on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. KeyCorp increased their price objective on shares of Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Piper Sandler lowered their target price on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat, Pinterest has a consensus rating of "Moderate Buy" and a consensus price target of $41.45.
Read Our Latest Research Report on PINS
Pinterest Stock Up 2.9%
The stock's fifty day moving average price is $34.13 and its 200-day moving average price is $32.39. The company has a market capitalization of $25.90 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.83 and a beta of 0.94.
Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Pinterest's quarterly revenue was up 15.5% on a year-over-year basis. Analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.
Insider Activity at Pinterest
In related news, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director directly owned 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,381,678 shares of company stock valued at $46,988,343 in the last 90 days. 7.11% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Pinterest by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company's stock worth $1,798,270,000 after buying an additional 1,263,863 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pinterest by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company's stock worth $988,662,000 after buying an additional 6,460,143 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Pinterest by 13.7% in the 1st quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company's stock worth $480,452,000 after buying an additional 1,862,654 shares during the last quarter. Amundi boosted its holdings in shares of Pinterest by 618.9% in the 1st quarter. Amundi now owns 14,254,741 shares of the company's stock worth $441,897,000 after buying an additional 12,271,958 shares during the last quarter. Finally, FMR LLC raised its stake in Pinterest by 2.6% in the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after acquiring an additional 316,633 shares during the period. Institutional investors own 88.81% of the company's stock.
Pinterest Company Profile
(
Get Free Report)
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.
Further Reading
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