Pinterest Target of Unusually High Options Trading (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) saw some unusual options trading on Thursday. Investors purchased 66,185 call options on the stock. This is an increase of approximately 83% compared to the typical daily volume of 36,226 call options.

Pinterest Stock Performance

Pinterest stock opened at $18.11 on Friday. Pinterest has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The stock has a market cap of $12.05 billion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.93. The firm’s fifty day moving average price is $21.50 and its 200-day moving average price is $27.49.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.01). The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 EPS. On average, analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In other Pinterest news, 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 represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Malik Ducard sold 6,000 shares of the company’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $155,160.00. Following the completion of the transaction, the insider owned 699,773 shares of the company’s stock, valued at $18,096,129.78. This trade represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 34,457 shares of company stock worth $876,925. 7.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

Large investors have recently made changes to their positions in the business. Snowden Capital Advisors LLC grew its stake in Pinterest by 4.4% in the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after purchasing an additional 296 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Pinterest by 10.1% during the 2nd quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock valued at $115,000 after buying an additional 300 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Pinterest by 3.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after buying an additional 358 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its position in shares of Pinterest by 3.6% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock worth $369,000 after buying an additional 359 shares during the period. Finally, Dynamic Wealth Strategies LLC increased its stake in shares of Pinterest by 5.8% in the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock worth $237,000 after acquiring an additional 361 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PINS shares. Oppenheimer reduced their target price on shares of Pinterest from $36.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Benchmark dropped their price objective on Pinterest from $39.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Zacks Research raised Pinterest from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. HSBC downgraded Pinterest from a “buy” rating to a “hold” rating and set a $24.90 target price for the company. in a research report on Friday, January 30th. Finally, Wells Fargo & Company dropped their price target on Pinterest from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.87.

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.