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

Pinterest, Inc. (NYSE:PINS)’s share price gapped down before the market opened 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 trading hands.

Wall Street Analyst Weigh In

A number of analysts have commented on PINS shares. Stifel Nicolaus lowered their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $41.00 target price on shares of Pinterest in a report on Monday, October 7th. KeyCorp increased their price target on shares of Pinterest from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. UBS Group lowered their target price on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Morgan Stanley upped their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and a consensus target price of $43.32.

Pinterest Price Performance

The business’s 50-day moving average is $31.67 and its 200 day moving average is $36.44. The firm has a market capitalization of $21.64 billion, a P/E ratio of 116.82, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same quarter last year, the company earned ($0.04) EPS. The company’s revenue was up 20.6% on a year-over-year basis. Analysts anticipate that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on 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 owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on 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 directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest in the second quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest in the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC increased its position in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares during the period. GAMMA Investing LLC lifted its holdings in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Pinterest during the second quarter valued at $35,000. 88.81% of the stock is owned by institutional investors and hedge funds.

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.