Pinterest (NYSE:PINS) Shares Gap Up to $32.64

Pinterest, Inc. (NYSE:PINS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $32.64, but opened at $34.32. Pinterest shares last traded at $33.99, with a volume of 2,069,383 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush boosted their price objective on Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Roth Mkm increased their price objective on Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Stifel Nicolaus increased their price objective on Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Evercore ISI increased their price objective on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.68.

Pinterest Trading Up 4.0 %

The firm has a market capitalization of $23.06 billion, a PE ratio of -565.91, a PEG ratio of 4.47 and a beta of 0.99. The business has a fifty day moving average price of $34.56 and a two-hundred day moving average price of $34.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. On average, equities analysts forecast that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,471 shares of company stock worth $6,525,231. 6.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC boosted its stake in shares of Pinterest by 152.3% in the 4th quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after buying an additional 872,016 shares during the period. Nordea Investment Management AB raised its position in shares of Pinterest by 57.9% during the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock worth $32,766,000 after acquiring an additional 323,547 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Pinterest by 3,402.0% during the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after acquiring an additional 77,974 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Pinterest by 53.1% during the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after acquiring an additional 1,089,299 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Pinterest by 55.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after acquiring an additional 62,117 shares in the last quarter. Hedge funds and other 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.