Pinterest, Inc. (NYSE:PINS) Short Interest Update

Pinterest, Inc. (NYSE:PINS) was the recipient of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 18,010,000 shares, a decrease 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PINS shares. Sanford C. Bernstein increased their target price on shares of Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. 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. Barclays lowered their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. KeyCorp lowered their price objective on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup cut their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.71.

Pinterest Stock Down 0.5 %

NYSE PINS opened at $31.53 on Wednesday. The stock 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 fifty-two week low of $23.59 and a fifty-two week high of $45.19. The business has a 50 day moving average price of $37.34 and a two-hundred day moving average price of $37.46.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. Pinterest’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. Sell-side analysts anticipate that Pinterest will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the sale, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at $8,410,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s 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 transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,689 shares of company stock valued at $1,628,002. Corporate insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC raised its position in shares of Pinterest by 56.7% during the 4th quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock valued at $3,570,000 after acquiring an additional 34,876 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after acquiring an additional 51,455 shares in the last quarter. Contrarius Investment Management Ltd raised its position in shares of Pinterest by 300.0% during the 4th quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock valued at $63,798,000 after acquiring an additional 1,291,854 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Pinterest by 10.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock valued at $8,586,000 after acquiring an additional 22,101 shares in the last quarter. Finally, Deltec Asset Management LLC acquired a new stake in shares of Pinterest during the 1st quarter valued at approximately $6,449,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.