Pinterest (NYSE:PINS) Shares Gap Down – Time to Sell?

Shares of Pinterest, Inc. (NYSE:PINS) gapped down before the market opened on Tuesday . The stock had previously closed at $33.48, but opened at $32.80. Pinterest shares last traded at $33.20, with a volume of 1,282,125 shares.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PINS shares. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price target on shares of Pinterest in a research note on Tuesday, December 10th. Benchmark restated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Raymond James decreased their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. UBS Group decreased their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $40.70.

Pinterest Trading Down 0.9 %

The company has a market capitalization of $22.43 billion, a P/E ratio of 110.89, a P/E/G ratio of 1.61 and a beta of 1.04. The business’s fifty day moving average price is $30.64 and its 200-day moving average price is $31.94.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now directly owns 32,536 shares of the company’s stock, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,157 shares of company stock valued at $589,131. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Pinterest by 1.2% in the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after purchasing an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the last quarter. Finally, Ninety One UK Ltd lifted its stake in Pinterest by 5.4% in the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after purchasing an additional 278,362 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

About Pinterest

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.