Pinterest, Inc. (NYSE:PINS) Short Interest Down 27.9% in October

Pinterest, Inc. (NYSE:PINS) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 16,760,000 shares, a decrease of 27.9% from the October 15th total of 23,230,000 shares. Based on an average daily volume of 8,810,000 shares, the days-to-cover ratio is currently 1.9 days.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 9.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several large investors have recently added to or reduced their stakes in the company. Leibman Financial Services Inc. increased its holdings in Pinterest by 0.9% in the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after buying an additional 266 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after acquiring an additional 313 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after purchasing an additional 319 shares during the last quarter. Hantz Financial Services Inc. lifted its position 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 purchasing an additional 339 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in Pinterest by 0.7% in the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after purchasing an additional 372 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Down 2.1 %

Shares of Pinterest stock traded down $0.62 during midday trading on Thursday, hitting $29.36. The company had a trading volume of 12,726,654 shares, compared to its average volume of 9,603,151. The stock has a market cap of $20.15 billion, a price-to-earnings ratio of 98.77, a PEG ratio of 2.34 and a beta of 1.02. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19. The company has a fifty day simple moving average of $31.76 and a 200 day simple moving average of $36.27.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PINS shares. UBS Group dropped their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company decreased their price target on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus cut their target price on Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Roth Mkm decreased their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, Rosenblatt Securities dropped their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

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.