Pinterest (NYSE:PINS) Shares Gap Down – What’s Next?

Shares of Pinterest, Inc. (NYSE:PINS) gapped down prior to trading on Tuesday . The stock had previously closed at $33.03, but opened at $31.53. Pinterest shares last traded at $31.75, with a volume of 2,183,230 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on PINS shares. Robert W. Baird cut their price target on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. KeyCorp increased their target price on shares of Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Barclays decreased their price target on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a research note on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price for the company. Finally, Roth Mkm decreased their target price on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.32.

Pinterest Stock Performance

The company has a market cap of $21.64 billion, a P/E ratio of 116.82, a P/E/G ratio of 2.56 and a beta of 1.01. The firm has a 50 day moving average price of $31.67 and a two-hundred day moving average price of $36.44.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, sell-side analysts predict that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

Institutional Trading of Pinterest

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Pinterest by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after acquiring an additional 51,455 shares during the last quarter. Deltec Asset Management LLC bought a new stake in Pinterest in the first quarter worth $6,449,000. Russell Investments Group Ltd. boosted its position in Pinterest by 38.0% during the first quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock valued at $21,358,000 after buying an additional 169,052 shares during the period. Artemis Investment Management LLP bought a new position in shares of Pinterest during the second quarter valued at about $5,045,000. Finally, Quantbot Technologies LP increased its holdings in shares of Pinterest by 217.8% in the second quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock worth $5,233,000 after buying an additional 81,380 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.