Pinterest (NYSE:PINS) Sets New 52-Week Low on Analyst Downgrade

Pinterest, Inc. (NYSE:PINS)’s share price reached a new 52-week low during trading on Monday after Hsbc Global Res downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $21.77 and last traded at $22.19, with a volume of 1849316 shares traded. The stock had previously closed at $22.13.

PINS has been the subject of a number of other reports. BMO Capital Markets cut their price target on Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company dropped their target price on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Citigroup reiterated a “buy” rating on shares of Pinterest in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Cantor Fitzgerald reduced their price objective on Pinterest from $40.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Insider Buying and Selling

In other news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $26.18, for a total transaction of $60,030.74. Following the completion of the transaction, the insider directly owned 697,480 shares in the company, valued at approximately $18,260,026.40. The trade was a 0.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the sale, the chief financial officer directly owned 540,358 shares of the company’s stock, valued at approximately $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 105,161 shares of company stock valued at $2,796,466 over the last three months. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Large investors have recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after acquiring an additional 506 shares in the last quarter. Elevated Capital Advisors LLC acquired a new stake in Pinterest during the 4th quarter worth approximately $26,000. N.E.W. Advisory Services LLC boosted its holdings in shares of Pinterest by 505.7% in the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after buying an additional 713 shares during the period. Atlantic Union Bankshares Corp raised its holdings in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after acquiring an additional 883 shares during the period. Finally, Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest during the second quarter worth $40,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

The firm has a market capitalization of $14.86 billion, a P/E ratio of 7.64, a PEG ratio of 1.02 and a beta of 0.92. The firm’s 50-day moving average is $25.97 and its 200 day moving average is $31.06.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.