Pinterest, Inc. (NYSE:PINS) Sees Significant Decline in Short Interest

Pinterest, Inc. (NYSE:PINS) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 18,010,000 shares, a decline of 36.0% from the July 31st total of 28,130,000 shares. Based on an average daily trading volume, of 9,590,000 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PINS. Susquehanna lowered their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research note on Wednesday, July 31st. Piper Sandler cut their target price on shares of Pinterest from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Wolfe Research initiated coverage on Pinterest in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Wednesday, July 31st. Finally, Robert W. Baird dropped their target price on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.71.

Insider Buying and Selling at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at approximately $16,102,040.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the transaction, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. Insiders have sold a total of 36,689 shares of company stock worth $1,628,002 over the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several large investors have recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd bought a new position in shares of Pinterest during the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest during the 2nd quarter worth approximately $26,000. GAMMA Investing LLC purchased a new stake in shares of Pinterest during the 4th quarter worth approximately $27,000. Hexagon Capital Partners LLC grew its stake in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Pinterest in the 2nd quarter valued at approximately $35,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of PINS opened at $31.53 on Wednesday. The stock has a 50-day moving average of $37.34 and a 200-day moving average of $37.46. The company has a market cap of $21.54 billion, a PE ratio of 150.14, a P/E/G ratio of 3.45 and a beta of 0.97. Pinterest has a one year low of $23.59 and a one year high of $45.19.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the business posted ($0.04) EPS. Analysts expect that Pinterest will post 0.39 EPS for the current fiscal year.

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.