Pinterest (NYSE:PINS) Trading 2.1% Higher – Here’s What Happened

Pinterest, Inc. (NYSE:PINS) shares traded up 2.1% on Friday . The company traded as high as $32.01 and last traded at $32.09. 1,179,625 shares were traded during trading, a decline of 88% from the average session volume of 9,827,686 shares. The stock had previously closed at $31.42.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. KeyCorp cut their target price on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $34.00 to $47.00 in a research report on Friday, February 7th. The Goldman Sachs Group lifted their price target on shares of Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada lifted their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.30.

Pinterest Stock Up 3.6 %

The firm’s fifty day moving average price is $34.35 and its two-hundred day moving average price is $32.27. The stock has a market capitalization of $22.07 billion, a PE ratio of 12.10, a PEG ratio of 1.95 and a beta of 1.02.

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

Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 207,812 shares of company stock valued at $6,798,857. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. increased its stake in shares of Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Pinterest by 2.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares in the last quarter. Ethos Financial Group LLC increased its stake in shares of Pinterest by 3.1% in the fourth quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after purchasing an additional 350 shares in the last quarter. Amalgamated Bank increased its stake in shares of Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after purchasing an additional 372 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of Pinterest by 3.3% in the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after purchasing an additional 378 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.