Pinterest (NYSE:PINS) Stock Breaks Above 200 Day Moving Average Following Insider Selling

Key Points

• Pinterest shares moved above their 200-day moving average of $20.69, reaching $21.60 before last trading at $21.21.
• Analysts collectively rate the stock “Hold,” with an average price target of $25.97; 17 analysts rate it Buy, 19 Hold, and one Sell.
• Pinterest reported quarterly EPS of $0.46, below the $0.49 consensus, and revenue of $1.17 billion, below estimates, though revenue rose 11.9% year over year.

Pinterest, Inc. (NYSE:PINS - Get Free Report) crossed above its 200-day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a 200-day moving average of $20.69 and traded as high as $21.60. Pinterest shares last traded at $21.2070, with a volume of 14,688,300 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group dropped their price objective on Pinterest from $33.00 to $32.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. JPMorgan Chase & Co. decreased their price target on Pinterest from $27.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, October 30th. Bank of America reaffirmed a "neutral" rating and set a $23.00 price objective on shares of Pinterest in a report on Friday, October 30th. Susquehanna decreased their price objective on Pinterest from $32.00 to $25.00 and set a "positive" rating on the stock in a research report on Friday, October 30th. Finally, Jefferies Financial Group lowered shares of Pinterest from a "strong-buy" rating to a "hold" rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $25.97.

Pinterest Stock Performance

The company's 50-day moving average is $20.46 and its two-hundred day moving average is $20.69. The firm has a market cap of $11.88 billion, a P/E ratio of 84.83, a PEG ratio of 1.46 and a beta of 0.98. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.32.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.21 billion. Pinterest had a net margin of 3.81% and a return on equity of 6.58%. Pinterest's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, equities analysts predict that Pinterest, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Pinterest

Several institutional investors and hedge funds have recently modified their holdings of PINS. Resona Asset Management Co. Ltd. grew its position in shares of Pinterest by 0.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 173,648 shares of the company's stock valued at $3,176,000 after acquiring an additional 785 shares during the period. D.A. Davidson & CO. raised its stake in shares of Pinterest by 3.2% during the 3rd quarter. D.A. Davidson & CO. now owns 39,472 shares of the company's stock worth $746,000 after acquiring an additional 1,218 shares in the last quarter. GAMMA Investing LLC grew its stake in Pinterest by 13.6% during the 2nd quarter. GAMMA Investing LLC now owns 10,929 shares of the company's stock worth $230,000 after buying an additional 1,308 shares during the last quarter. Allworth Financial LP lifted its holdings in Pinterest by 8.7% in the 2nd quarter. Allworth Financial LP now owns 16,941 shares of the company's stock valued at $356,000 after purchasing an additional 1,360 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Pinterest by 31.7% during the 1st quarter. Parallel Advisors LLC now owns 5,780 shares of the company's stock valued at $106,000 after acquiring an additional 1,390 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

About Pinterest

Pinterest, Inc NYSE: PINS operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.

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