Pinterest (NYSE:PINS) Shares Up 8.5%

Pinterest, Inc. (NYSE:PINSGet Rating)’s share price shot up 8.5% during trading on Wednesday . The company traded as high as $18.76 and last traded at $18.72. 442,580 shares traded hands during trading, a decline of 97% from the average session volume of 14,074,145 shares. The stock had previously closed at $17.25.

A number of analysts have commented on PINS shares. Royal Bank of Canada reduced their price target on Pinterest from $51.00 to $34.00 and set a “sector perform” rating for the company in a research report on Friday, February 4th. Piper Sandler reduced their price target on Pinterest from $46.00 to $35.00 in a research report on Thursday, April 28th. TheStreet upgraded Pinterest from a “d+” rating to a “c” rating in a research report on Monday, April 18th. Wells Fargo & Company reduced their price target on Pinterest from $64.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, February 4th. Finally, MKM Partners reduced their price target on Pinterest from $38.00 to $28.00 in a research report on Thursday, April 28th. Twenty equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.64.

The stock has a market capitalization of $12.35 billion, a P/E ratio of 38.46, a price-to-earnings-growth ratio of 4.14 and a beta of 1.24. The stock has a 50 day moving average of $22.93 and a 200-day moving average of $29.52.

Pinterest (NYSE:PINSGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. Pinterest had a return on equity of 12.69% and a net margin of 12.48%. The firm had revenue of $574.89 million during the quarter, compared to analyst estimates of $568.27 million. During the same period last year, the company earned ($0.02) EPS. On average, research analysts forecast that Pinterest, Inc. will post 0.38 EPS for the current fiscal year.

In other news, CEO Benjamin Silbermann sold 59,154 shares of Pinterest stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $20.58, for a total value of $1,217,389.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Todd R. Morgenfeld sold 63,650 shares of Pinterest stock in a transaction on Monday, March 21st. The shares were sold at an average price of $25.47, for a total value of $1,621,165.50. The disclosure for this sale can be found here. Insiders have sold a total of 358,339 shares of company stock valued at $8,200,218 over the last three months. 7.58% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Cohanzick Management LLC purchased a new position in Pinterest during the 1st quarter worth $25,000. FourThought Financial LLC lifted its position in Pinterest by 214.8% during the 4th quarter. FourThought Financial LLC now owns 724 shares of the company’s stock worth $26,000 after acquiring an additional 494 shares during the period. KRS Capital Management LLC acquired a new stake in Pinterest during the 4th quarter worth about $26,000. Sandy Cove Advisors LLC acquired a new stake in Pinterest during the 4th quarter worth about $33,000. Finally, First Horizon Advisors Inc. lifted its position in Pinterest by 212.0% during the 1st quarter. First Horizon Advisors Inc. now owns 1,404 shares of the company’s stock worth $35,000 after acquiring an additional 954 shares during the period. Hedge funds and other institutional investors own 63.76% of the company’s stock.

Pinterest Company Profile (NYSE:PINS)

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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