Pinterest, Inc. (NYSE:PINS) Director Jeremy S. Levine Sells 6,274 Shares of Stock

Pinterest, Inc. (NYSE:PINS) Director Jeremy S. Levine sold 6,274 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $34.11, for a total transaction of $214,006.14. Following the completion of the sale, the director now directly owns 1,158,833 shares in the company, valued at $39,527,793.63. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Pinterest Stock Performance

Shares of NYSE PINS opened at $35.08 on Wednesday. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $45.19. The firm has a 50 day moving average price of $28.94 and a two-hundred day moving average price of $31.43. The stock has a market cap of $23.79 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the company posted $0.17 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. Analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Pinterest by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock valued at $1,798,270,000 after acquiring an additional 1,263,863 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Pinterest by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after buying an additional 6,460,143 shares during the period. Ameriprise Financial Inc. increased its position in shares of Pinterest by 13.7% during the first quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock worth $480,452,000 after buying an additional 1,862,654 shares during the period. Amundi increased its position in shares of Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company’s stock worth $441,897,000 after buying an additional 12,271,958 shares during the period. Finally, FMR LLC increased its position in shares of Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock worth $365,381,000 after buying an additional 316,633 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PINS has been the topic of several analyst reports. Raymond James cut shares of Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday, April 7th. Stifel Nicolaus lowered their price objective on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Bank of America decreased their price target on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Benchmark decreased their price target on shares of Pinterest from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upgraded shares of Pinterest from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.42.

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.