Pinterest Sees Unusually High Options Volume (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 67,345 call options on the company. This is an increase of 74% compared to the typical daily volume of 38,614 call options.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of the business’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 sale, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on 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 approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently added to or reduced their stakes in the business. Brown Shipley& Co Ltd acquired a new stake in shares of Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest during the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC boosted its stake in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares during the period. GAMMA Investing LLC grew its position in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in Pinterest during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Price Performance

Shares of PINS stock opened at $29.24 on Thursday. The company has a fifty day moving average price of $31.71 and a two-hundred day moving average price of $36.02. Pinterest has a one year low of $27.00 and a one year high of $45.19. The stock has a market cap of $19.76 billion, a P/E ratio of 99.00, a P/E/G ratio of 2.02 and a beta of 1.02.

Wall Street Analyst Weigh In

PINS has been the topic of a number of recent analyst reports. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price target (down previously from $45.00) on shares of Pinterest in a research note on Friday, November 8th. Roth Mkm cut their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Oppenheimer reduced their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price objective for the company. 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 stock. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and an average price target of $42.00.

Pinterest Company Profile

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.