Insider Selling: Pinterest, Inc. (NYSE:PINS) Insider Sells 6,690 Shares of Stock

Pinterest, Inc. (NYSE:PINS) insider Wanjiku Juanita Walcott sold 6,690 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Pinterest Stock Performance

Shares of PINS opened at $31.85 on Tuesday. The stock has a market capitalization of $21.60 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The stock’s 50-day simple moving average is $34.18 and its 200 day simple moving average is $32.27.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 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%. On average, research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after buying an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after acquiring an additional 342 shares during the last quarter. Ethos Financial Group LLC grew its holdings in shares of Pinterest by 3.1% during 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 position 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 during the last quarter. Finally, Commerce Bank raised its stake in Pinterest by 3.3% in the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday, February 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Piper Sandler reiterated a “neutral” rating and set a $41.00 price target (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.47.

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.