Insider Selling: Pinterest, Inc. (NYSE:PINS) Director Sells $1,717,179.30 in Stock

Pinterest, Inc. (NYSE:PINS) Director Jeremy S. Levine sold 50,535 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the completion of the transaction, the director now directly owns 1,156,693 shares in the company, valued at $39,304,428.14. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Pinterest Price Performance

Pinterest stock opened at $34.37 on Monday. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The firm has a 50-day moving average of $34.13 and a two-hundred day moving average of $32.27. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Research analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on PINS shares. Roth Capital set a $32.00 price target on shares of Pinterest in a research note on Monday, February 3rd. Morgan Stanley lifted their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. KeyCorp upped their price objective on Pinterest from $37.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Guggenheim raised their target price on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group upped their price target on shares of Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.47.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Probity Advisors Inc. lifted its stake in Pinterest by 86.1% in the fourth quarter. Probity Advisors Inc. now owns 12,138 shares of the company’s stock worth $352,000 after acquiring an additional 5,614 shares during the period. Siemens Fonds Invest GmbH raised its holdings in shares of Pinterest by 679.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 48,408 shares of the company’s stock valued at $1,404,000 after purchasing an additional 42,197 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Pinterest in the 4th quarter worth approximately $6,747,000. Forum Financial Management LP boosted its stake in shares of Pinterest by 69.2% during the fourth quarter. Forum Financial Management LP now owns 14,854 shares of the company’s stock valued at $431,000 after purchasing an additional 6,074 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Pinterest by 4.4% during the fourth quarter. Toronto Dominion Bank now owns 81,252 shares of the company’s stock valued at $2,356,000 after buying an additional 3,410 shares during the period. Institutional investors 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.