Pinterest (NYSE:PINS) Reaches New 52-Week Low – Here’s Why

by · The Markets Daily

Pinterest, Inc. (NYSE:PINS – Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $26.95 and last traded at $27.06, with a volume of 9522666 shares trading hands. The stock had previously closed at $31.38.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PINS. Cantor Fitzgerald lifted their price target on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Guggenheim reissued a “buy” rating on shares of Pinterest in a research report on Tuesday. KeyCorp cut their price target on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Roth Capital set a $32.00 target price on Pinterest in a report on Monday, February 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Read Our Latest Report on PINS

Pinterest Stock Performance

The company has a market cap of $18.68 billion, a P/E ratio of 10.24, a PEG ratio of 1.95 and a beta of 0.99. The firm’s 50-day simple moving average is $34.64 and its 200 day simple moving average is $32.43.

Pinterest (NYSE:PINS – Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the sale, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the transaction, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $195,497.84. The trade was a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,753 shares of company stock valued at $11,640,201. 7.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pinterest

Several hedge funds have recently made changes to their positions in PINS. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $737,533,000 after purchasing an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after buying an additional 4,527,902 shares during the last quarter. State Street Corp grew its holdings in shares of Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after acquiring an additional 156,748 shares in the last quarter. FMR LLC increased its position in shares of Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock valued at $365,381,000 after acquiring an additional 316,633 shares during the last quarter. Finally, Norges Bank acquired a new position in Pinterest during the fourth quarter valued at approximately $358,205,000. 88.81% of the stock is owned by institutional investors.

Pinterest Company Profile

(Get Free Report)

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.

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