Pinterest (NYSE:PINS) stock price fell 6.1% following an analyst downgrade.
After lowering its price target for the company from $26.00 to $25.00, Credit Suisse Group sent Pinterest, Inc. (NYSE: PINS) stock price down 6.1% on Tuesday. The credit rating that the stock carries from Credit Suisse Group is currently considered neutral at this time. At various points in history, the price of a Pinterest subscription ranged between $22.76 and $23.15. The number of shares traded during the session was just 486,998, significantly lower than the average volume of 13,352,394 traded during a session. When the stock last traded, it was priced at $24.65, its previous price.
Many PINS reports have already been compiled. Investment group Susquehanna improved its outlook on Pinterest from “neutral” to “positive” and raised its price target from $22.00 to $35.00 in a public report on Tuesday, August 2. In a research report released Tuesday, August 2, KeyCorp raised its price target on Pinterest from $24.00 to $28.00. Additionally, the company categorized the stock as “overweight.” In a research report released Tuesday, August 2, Evercore ISI raised its price target for Pinterest from $24.00 to $28.00 and gave the title an “inline” rating in a research report. In research released Tuesday, August 2, UBS Group raised its price target for Pinterest from $19.00 to $26.00 and raised the company’s rating from “neutral” to “overweight” in the research. Finally, the street raised Pinterest’s rating from “d+” to “c-” based on a study published on Tuesday, August 16; this indicates that Pinterest has progressed. There were 16 research analysts who recommended investors hold their holdings in the stock, while nine research analysts rated the stock as a buy. The stock is currently rated “Hold” and market analysts expect the price to reach $29.36 shortly. This information comes from data provided by Bloomberg.com.
In related news, Chief Executive William J. Ready purchased 222,551 shares of the company on August 3. This is an important development that relates to this topic. The average price paid for one stock was $22.47, resulting in a total investment of $5,000,000,720.97 in the stock. Following the successful completion of the acquisition, the Chief Executive Officer (CEO) was awarded ownership of 222,551 shares of the Company, each of which has a current value of $5,720.97. If you follow this link, you will be redirected to a filing made with the SEC, which will provide you with information about the purchase. Additionally, on Friday, July 15, Naveen Gavini, senior vice president and general counsel of Pinterest, sold 4,756 shares of the company. The total amount received for the sale of the shares was $95,167.56 and the price paid for each share averaged $20.01. The Senior Vice President now owns 501,653 shares of the company, which have a value of $10,038,076.53, as a direct result of the transaction. If you follow this link, you will be redirected to a document filed with the Securities and Exchange Commission (SEC). The document contains a detailed explanation of the transaction reported to the SEC.
Additionally, on August 3, William J. Ready, the company’s CEO, purchased 222,551 shares of the company. The shares were purchased at an average price of $22.47 per share, resulting in a total investment of $5,720.97. As a result of the transaction, the CEO now owns 222,551 shares of the company. Based on the current market price, these shares are around $5,720.97. You should visit this location if you are looking for disclosure related to this transaction. Insiders of a company sold 124,750 shares of the company in the last three months, generating a total of $3,111,454 in profits. The management and employees of the company collectively own 7.58% of the total shares of the company.
Shares of PINS have recently been the subject of transactions involving the participation of several hedge funds. Guggenheim Capital LLC’s stake in Pinterest grew 12.2% in the last three months of 2018, thanks to the company’s continued investment. Guggenheim Capital LLC now owns 22,441 shares of the company, which are worth a combined total of $816,000 thanks to the purchase of 2,441 additional shares during the period. In the last three months of 2018, Mackenzie Financial Corporation achieved a 26.5% increase in the proportion of its holdings attributed to Pinterest. Mackenzie Financial Corp now owns 80,209 shares of the company, which are currently valued at $2,916,000 after purchasing an additional 16,789 shares during the period in question. This brings the total number of shares held by the company to 80,209. In the last three months of 2016, Empirical Capital Management LLC increased the number of Pinterest shares it held by 38.7%, bringing its percentage total 100%. Following the acquisition of 59,820 shares in the most recent period, Empirical Capital Management LLC now owns 214,470 shares of the company, which have a combined value of $7,796,000. This brings the total number of shares held by the company to 214,470. Forager Funds Management Pty Ltd increased the amount of money it had invested in Pinterest by making a purchase of approximately $4,678,000 during the fourth trimester. In the last three months of 2018, Metatron Capital SICAV plc bought a new position on Pinterest for around $669,000. We have now come to the very last and very last point. Institutional investors and hedge funds own 70.78% of all shares in the company. This makes them the main shareholders of the company.
The stock price is currently trading $23.35 above its 50-day simple moving average, or $21.69 below its 200-day simple moving average. The company’s market capitalization is $15.59 billion, the price-earnings ratio is 75.19, and the stock’s beta value is 1.
On August 1, Pinterest’s latest quarterly earnings report, traded on the NYSE under PINS, was released to the public. The company reported earnings per share for the quarter of $0.07, $0.01 lower than consensus guidance of $0.04 and $0.02 lower than the prior quarter’s results. In addition, the company announced that it achieved sales of $666 million for the quarter, which was significantly higher than the average expectation of $663.19 million for sales in the quarter. Pinterest’s return on equity was 8.35% and the company’s net margin was 8.1%. Compared to the same quarter of the previous year, the increase in turnover was 8.6% higher than expected.
Compared to the year-ago period, the company posted earnings of 0.11 cents per share. However, according to projections by research experts, the current fiscal year should see Pinterest, Inc. lose 0.15 cents per share. Again, this is in line with projections made by research experts.
The visual search engine that goes by the name of Pinterest, Inc. is currently functional in the United States of America and globally. People can find inspiration for their daily life using the search engine provided by the company. In addition to providing ideas for cooking, fashion, and home decor, the search engine also provides pins for products and ideas. It makes recommendations based on each pinner’s tastes and interests, and it does so automatically. This is accomplished through a process known as visual machine learning.