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Pinterest (NYSE:PINS) CFO Todd R. Morgenfeld Sells 36,233 Shares

27 May 2020, 12:06 by Tristan Rich

Pinterest (NYSE:PINS) CFO Todd R. Morgenfeld sold 36,233 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $18.59, for a total transaction of $673,571.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PINS opened at $19.50 on Wednesday. The company’s 50 day moving average is $18.30 and its 200-day moving average is $19.02. Pinterest has a 1-year low of $10.10 and a 1-year high of $36.83. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.08. The company has a market cap of $10.91 billion and a P/E ratio of -6.17.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Pinterest had a negative net margin of 120.48% and a negative return on equity of 73.06%. The company had revenue of $271.94 million during the quarter, compared to analyst estimates of $270.69 million. During the same quarter in the previous year, the business posted ($0.32) earnings per share. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. On average, equities analysts forecast that Pinterest will post -0.76 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of PINS. FMR LLC boosted its stake in shares of Pinterest by 9,401.2% in the 4th quarter. FMR LLC now owns 21,835,568 shares of the company’s stock valued at $407,015,000 after purchasing an additional 21,605,750 shares in the last quarter. FirstMark Capital I GP LLC acquired a new stake in Pinterest during the 4th quarter worth approximately $175,509,000. Capital International Investors boosted its position in Pinterest by 375.3% during the 1st quarter. Capital International Investors now owns 11,500,554 shares of the company’s stock worth $177,569,000 after buying an additional 9,080,885 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Pinterest by 187.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,857,997 shares of the company’s stock worth $152,207,000 after buying an additional 6,432,356 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its position in Pinterest by 203.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,780,905 shares of the company’s stock worth $135,577,000 after buying an additional 5,888,564 shares during the period. Institutional investors own 46.23% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Deutsche Bank lowered shares of Pinterest to a “buy” rating and lowered their price target for the stock from $30.00 to $20.00 in a research report on Tuesday, April 21st. Nomura Securities reaffirmed a “buy” rating and set a $32.00 price target on shares of Pinterest in a research report on Sunday, April 19th. Nomura Instinet reaffirmed a “buy” rating and set a $28.00 price target (down from $32.00) on shares of Pinterest in a research report on Wednesday, May 6th. Bank of America raised their price target on shares of Pinterest to $32.00 in a research report on Friday, February 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $27.00 price target on shares of Pinterest in a research report on Sunday, May 3rd. Twelve research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $24.13.

Pinterest Company Profile

Pinterest, Inc provides a visual discovery engine that helps users to discover ideas for various projects and interests worldwide. Its platform allows users to discover ideas for daily activities, remodeling a house or training for a marathon, ongoing passions, and planning a wedding or a dream vacation.