Short Interest in Pinterest (NYSE:PINS) Expands By 25.5%

Pinterest (NYSE:PINS) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 20,450,000 shares, a growth of 25.5% from the September 15th total of 16,300,000 shares. Based on an average daily trading volume, of 16,310,000 shares, the short-interest ratio is presently 1.3 days.

A number of research firms have issued reports on PINS. Barclays restated a “neutral” rating on shares of Pinterest in a report on Sunday, August 2nd. JPMorgan Chase & Co. upped their target price on shares of Pinterest from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Citigroup lowered shares of Pinterest from a “buy” rating to a “neutral” rating and upped their target price for the company from $25.00 to $35.00 in a report on Monday, August 24th. Pivotal Research upgraded shares of Pinterest from a “hold” rating to a “buy” rating and upped their target price for the company from $22.00 to $44.50 in a report on Sunday, August 2nd. Finally, Wedbush upped their target price on shares of Pinterest from $31.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Fourteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $33.98.

In other Pinterest news, CEO Benjamin Silbermann sold 58,559 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $25.76, for a total value of $1,508,479.84. Following the transaction, the chief executive officer now directly owns 58,559 shares in the company, valued at approximately $1,508,479.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Evan Sharp sold 1,496,918 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $37.15, for a total transaction of $55,610,503.70. Following the completion of the transaction, the insider now owns 34,599 shares in the company, valued at $1,285,352.85. The disclosure for this sale can be found here. Insiders sold a total of 4,751,668 shares of company stock worth $176,156,724 over the last quarter.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Pinterest by 30.3% during the 2nd quarter. Vanguard Group Inc. now owns 32,134,965 shares of the company’s stock valued at $712,432,000 after buying an additional 7,469,357 shares during the last quarter. Capital International Investors lifted its stake in Pinterest by 375.3% during the first quarter. Capital International Investors now owns 11,500,554 shares of the company’s stock worth $177,569,000 after purchasing an additional 9,080,885 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Pinterest by 11.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,967,222 shares of the company’s stock worth $243,143,000 after purchasing an additional 1,109,225 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Pinterest by 19.8% during the second quarter. ArrowMark Colorado Holdings LLC now owns 9,736,499 shares of the company’s stock worth $215,858,000 after purchasing an additional 1,610,661 shares during the last quarter. Finally, Fred Alger Management LLC lifted its stake in Pinterest by 4.6% during the first quarter. Fred Alger Management LLC now owns 4,971,055 shares of the company’s stock worth $76,753,000 after purchasing an additional 217,677 shares during the last quarter. Institutional investors own 54.51% of the company’s stock.

NYSE:PINS traded up $0.41 during trading hours on Friday, hitting $44.06. The stock had a trading volume of 10,916,177 shares, compared to its average volume of 14,882,064. The company has a current ratio of 11.75, a quick ratio of 11.75 and a debt-to-equity ratio of 0.08. Pinterest has a 1-year low of $10.10 and a 1-year high of $45.84. The business has a 50 day simple moving average of $38.94 and a two-hundred day simple moving average of $27.18. The company has a market cap of $26.46 billion, a PE ratio of -62.06 and a beta of 1.88.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Friday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.24. Pinterest had a negative net margin of 32.88% and a negative return on equity of 20.50%. The company had revenue of $272.30 million during the quarter, compared to the consensus estimate of $254.79 million. During the same quarter last year, the company earned ($0.06) earnings per share. Pinterest’s revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts expect that Pinterest will post -0.53 EPS for the current fiscal year.

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.

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