Pinterest (NYSE:PINS) Reaches New 52-Week Low on Insider Selling

Pinterest, Inc. (NYSE:PINS)’s stock price hit a new 52-week low during trading on Thursday following insider selling activity. The company traded as low as $26.95 and last traded at $27.06, with a volume of 9522666 shares changing hands. The stock had previously closed at $31.38.

Specifically, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the sale, the director now owns 6,274 shares in the company, valued at $196,187.98. The trade was a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $41.00 price target (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. KeyCorp decreased their target price on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Oppenheimer increased their price target on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Guggenheim reissued a “buy” rating on shares of Pinterest in a report on Tuesday. Finally, Cantor Fitzgerald increased their target price on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Pinterest Trading Down 6.3 %

The stock has a market cap of $17.49 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The business has a 50-day simple moving average of $34.40 and a 200 day simple moving average of $32.38.

Pinterest (NYSE:PINS) last announced 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%. As a group, equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Institutional Trading of Pinterest

A number of institutional investors have recently added to or reduced their stakes in the stock. Leibman Financial Services Inc. raised its stake in Pinterest by 102.2% in the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock valued at $1,862,000 after purchasing an additional 32,464 shares in the last quarter. Janney Capital Management LLC purchased a new stake in shares of Pinterest during the 4th quarter valued at $4,289,000. Jones Financial Companies Lllp lifted its holdings in shares of Pinterest by 91.3% during the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock worth $725,000 after acquiring an additional 11,925 shares during the last quarter. Weiss Asset Management LP purchased a new position in Pinterest in the third quarter worth $1,296,000. Finally, Everence Capital Management Inc. bought a new position in Pinterest in the fourth quarter valued at $520,000. Hedge funds and other 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.