Stock Traders Purchase Large Volume of Call Options on Pinterest (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) was the target of unusually large options trading on Tuesday. Stock investors purchased 67,345 call options on the stock. This is an increase of 74% compared to the typical daily volume of 38,614 call options.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of recent research reports. Robert W. Baird reduced their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Morgan Stanley increased their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Raymond James reduced their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Pinterest by 195.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after buying an additional 1,422 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Pinterest by 25.5% in the 1st quarter. Empowered Funds LLC now owns 7,432 shares of the company’s stock worth $258,000 after acquiring an additional 1,510 shares in the last quarter. US Bancorp DE grew its position in Pinterest by 2.0% during the 1st quarter. US Bancorp DE now owns 26,602 shares of the company’s stock worth $922,000 after acquiring an additional 521 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in Pinterest by 36.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 12,604 shares of the company’s stock valued at $437,000 after purchasing an additional 3,392 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Pinterest by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after purchasing an additional 51,455 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE PINS opened at $29.70 on Wednesday. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 97.27, a PEG ratio of 2.02 and a beta of 1.02. The business has a 50 day simple moving average of $31.70 and a 200 day simple moving average of $36.10. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19.

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.