Wanjiku Juanita Walcott Sells 6,690 Shares of Pinterest, Inc. (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now directly owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Pinterest Trading Up 6.0 %

NYSE PINS opened at $33.27 on Thursday. The firm’s fifty day simple moving average is $34.32 and its two-hundred day simple moving average is $32.27. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The firm has a market capitalization of $22.56 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PINS has been the subject of several analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Oppenheimer lifted their price target on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, January 10th. Cantor Fitzgerald lifted their price target on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company lifted their price target on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $43.47.

Institutional Investors Weigh In On Pinterest

A number of large investors have recently made changes to their positions in PINS. Price T Rowe Associates Inc. MD grew its holdings in shares of Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Norges Bank purchased a new stake in shares of Pinterest during the fourth quarter valued at $358,205,000. Marshall Wace LLP grew its holdings in shares of Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after buying an additional 6,129,985 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest during the third quarter valued at $153,829,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after buying an additional 4,527,902 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.