Pinterest (NYSE:PINS) Shares Gap Down – Time to Sell?

Pinterest, Inc. (NYSE:PINS) gapped down before the market opened on Tuesday . The stock had previously closed at $33.48, but opened at $32.80. Pinterest shares last traded at $33.20, with a volume of 1,282,125 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PINS shares. JPMorgan Chase & Co. lowered their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Wells Fargo & Company lowered their price target on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Roth Mkm lowered their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of Pinterest in a report on Tuesday, December 10th. Finally, Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.70.

Pinterest Trading Down 0.9 %

The company has a market cap of $22.43 billion, a P/E ratio of 110.89, a PEG ratio of 1.61 and a beta of 1.04. The stock’s 50-day moving average price is $30.64 and its 200-day moving average price is $31.94.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock valued at $589,131 in the last 90 days. 7.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Several large investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its position in shares of Pinterest by 0.7% during the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after buying an additional 372 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Pinterest by 86.4% during the 2nd quarter. AQR Capital Management LLC now owns 320,502 shares of the company’s stock worth $14,125,000 after buying an additional 148,578 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of Pinterest by 350.7% during the 2nd quarter. APG Asset Management N.V. now owns 126,546 shares of the company’s stock worth $5,204,000 after buying an additional 98,470 shares in the last quarter. MBB Public Markets I LLC bought a new position in shares of Pinterest during the 2nd quarter worth approximately $1,877,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Pinterest by 12.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,153 shares of the company’s stock worth $1,902,000 after buying an additional 4,712 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

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.