Pinterest Target of Unusually Large Options Trading (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) was the target of some unusual options trading activity on Thursday. Stock investors purchased 53,055 put options on the stock. This represents an increase of approximately 32% compared to the average daily volume of 40,157 put options.

Pinterest Trading Up 1.1 %

Shares of Pinterest stock traded up $0.38 during trading hours on Thursday, reaching $33.68. The stock had a trading volume of 4,123,213 shares, compared to its average volume of 9,991,080. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The firm has a market capitalization of $22.76 billion, a price-to-earnings ratio of 112.31, a P/E/G ratio of 1.68 and a beta of 1.06. The firm has a 50 day simple moving average of $31.17 and a two-hundred day simple moving average of $31.55.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. KeyCorp dropped their price objective on Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. TD Cowen began coverage on Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price target on the stock. Wells Fargo & Company decreased their target price on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Robert W. Baird decreased their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $40.70.

Insider Activity

In other news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the transaction, the director now owns 32,536 shares in the company, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,157 shares of company stock worth $589,131. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors have recently bought and sold shares of PINS. Whipplewood Advisors LLC acquired a new stake in Pinterest in the 4th quarter valued at $28,000. GAMMA Investing LLC grew its stake in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Pinterest during the 3rd quarter valued at about $37,000. Crewe Advisors LLC lifted its position in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after acquiring an additional 1,487 shares during the period. 88.81% of the stock is currently owned by hedge funds and other 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.