Pinterest, Inc. (NYSE:PINS – Get Rating) CFO Todd R. Morgenfeld sold 55,241 shares of the stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $23.04, for a total value of $1,272,752.64. Following the completion of the transaction, the chief financial officer now directly owns 641,025 shares in the company, valued at approximately $14,769,216. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Pinterest Stock Performance
Shares of NYSE:PINS opened at $24.28 on Monday. Pinterest, Inc. has a 52-week low of $16.14 and a 52-week high of $38.20. The company has a market capitalization of $16.47 billion, a P/E ratio of 346.91 and a beta of 0.98. The company has a 50-day simple moving average of $24.01 and a 200 day simple moving average of $22.59.
Pinterest (NYSE:PINS – Get Rating) last issued its earnings results on Thursday, October 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. Pinterest had a net margin of 2.21% and a return on equity of 3.10%. The business had revenue of $684.55 million during the quarter, compared to the consensus estimate of $664.97 million. As a group, equities analysts forecast that Pinterest, Inc. will post -0.11 earnings per share for the current year.
Analyst Upgrades and Downgrades
PINS has been the subject of a number of recent analyst reports. Credit Suisse Group lowered their price objective on shares of Pinterest from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, October 28th. Wolfe Research upgraded shares of Pinterest from a “peer perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a research report on Wednesday, September 7th. Royal Bank of Canada upped their price objective on shares of Pinterest from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, October 28th. Guggenheim upped their price objective on shares of Pinterest to $26.00 in a research report on Tuesday, November 1st. Finally, Piper Sandler upgraded shares of Pinterest from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $25.00 to $30.00 in a research report on Tuesday, December 13th. Fifteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.88.
Institutional Investors Weigh In On Pinterest
Several hedge funds have recently bought and sold shares of PINS. Financial Advocates Investment Management lifted its position in Pinterest by 2.0% during the third quarter. Financial Advocates Investment Management now owns 21,538 shares of the company’s stock worth $502,000 after acquiring an additional 432 shares during the last quarter. Capital International Sarl grew its stake in shares of Pinterest by 4.8% during the first quarter. Capital International Sarl now owns 11,867 shares of the company’s stock worth $292,000 after buying an additional 539 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Pinterest by 17.6% during the third quarter. First Horizon Advisors Inc. now owns 3,628 shares of the company’s stock worth $85,000 after buying an additional 543 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in shares of Pinterest by 1.4% during the first quarter. Wetherby Asset Management Inc. now owns 42,863 shares of the company’s stock worth $1,055,000 after purchasing an additional 573 shares during the period. Finally, Motley Fool Asset Management LLC lifted its holdings in shares of Pinterest by 4.2% during the second quarter. Motley Fool Asset Management LLC now owns 14,993 shares of the company’s stock worth $303,000 after purchasing an additional 608 shares during the period. 71.95% of the stock is currently owned by institutional investors and hedge funds.
Pinterest Company Profile
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company’s engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.
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