Rep. Sells Off Shares of Pinterest, Inc. (NYSE:PINS)

Key Points

• A Texas Democratic representative disclosed selling Pinterest shares worth between $15,001 and $50,000 on May 28, according to a filing released June 1.
• Pinterest reported better-than-expected quarterly results, posting EPS of $0.27 versus $0.22 expected and revenue of $1.01 billion, up 17.8% year over year.
• Sentiment on the stock remains mixed: analysts have an average Hold rating with a $27.40 target price, while insiders and institutional investors have also been active in trading shares recently.

Representative (Democratic-Texas) recently sold shares of Pinterest, Inc. NYSE: PINS. In a filing disclosed on June 01st, the Representative disclosed that they had sold between $15,001 and $50,000 in Pinterest stock on May 28th.

Pinterest Price Performance

Shares of PINS stock opened at $20.86 on Wednesday. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The firm has a market capitalization of $11.69 billion, a P/E ratio of 43.47, a P/E/G ratio of 1.15 and a beta of 0.92. The stock has a 50 day moving average price of $19.45 and a 200 day moving average price of $21.89.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $965.84 million. During the same period last year, the company earned $0.23 EPS. Pinterest's quarterly revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.68 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp boosted its stake in shares of Pinterest by 3,839.1% in the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company's stock worth $29,000 after buying an additional 883 shares during the last quarter. Elevated Capital Advisors LLC purchased a new stake in shares of Pinterest in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Pinterest by 2,017.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company's stock worth $29,000 after buying an additional 1,049 shares during the last quarter. Addison Advisors LLC boosted its stake in shares of Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company's stock worth $35,000 after buying an additional 1,200 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company's stock worth $44,000 after buying an additional 1,325 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on PINS. Guggenheim boosted their price target on Pinterest from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Wedbush reduced their price target on Pinterest from $30.00 to $16.00 and set a "neutral" rating for the company in a research report on Friday, February 13th. JPMorgan Chase & Co. boosted their price target on Pinterest from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $24.00 price target on shares of Pinterest in a research report on Tuesday, May 5th. Finally, Robert W. Baird upped their target price on Pinterest from $20.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.40.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of the company's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the transaction, the insider owned 724,673 shares of the company's stock, valued at approximately $14,826,809.58. This represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the transaction, the director directly owned 27,450 shares of the company's stock, valued at $549,000. The trade was a 7.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,537 shares of company stock worth $643,315 in the last 90 days. Company insiders own 8.09% of the company's stock.

About Representative

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.

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