Pinterest (NYSE:PINS) Shares Gap Down - Time to Sell?

Shares of Pinterest, Inc. (NYSE:PINS - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $33.48, but opened at $32.80. Pinterest shares last traded at $33.20, with a volume of 1,282,125 shares changing hands.

Analyst Ratings Changes

PINS has been the subject of several research analyst reports. Roth Mkm cut their price objective on Pinterest from $39.00 to $33.00 and set a "neutral" rating for the company in a report on Friday, November 8th. Wells Fargo & Company cut their price target on shares of Pinterest from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Wedbush reaffirmed an "outperform" rating and issued a $38.00 price objective on shares of Pinterest in a research note on Tuesday. Piper Sandler cut shares of Pinterest from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $41.00 to $36.00 in a report on Tuesday, December 10th. Finally, KeyCorp decreased their price target on shares of Pinterest from $39.00 to $37.00 and set an "overweight" rating on the stock in a research report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.70.

Pinterest Trading Down 1.5 %

The firm has a 50-day simple moving average of $30.80 and a two-hundred day simple moving average of $31.82. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of 109.89, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the sale, the director now directly owns 31,386 shares in the company, valued at approximately $972,338.28. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,157 shares of company stock worth $589,131. Insiders own 7.11% of the company's stock.

Institutional Trading of Pinterest

Several large investors have recently modified their holdings of the company. Toronto Dominion Bank increased its position in Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company's stock worth $2,510,000 after buying an additional 372 shares during the period. AQR Capital Management LLC increased its position in Pinterest by 86.4% during the second quarter. AQR Capital Management LLC now owns 320,502 shares of the company's stock worth $14,125,000 after acquiring an additional 148,578 shares during the period. APG Asset Management N.V. raised its stake in Pinterest by 350.7% during the 2nd quarter. APG Asset Management N.V. now owns 126,546 shares of the company's stock valued at $5,204,000 after purchasing an additional 98,470 shares during the last quarter. MBB Public Markets I LLC bought a new stake in Pinterest in the 2nd quarter valued at $1,877,000. Finally, The Manufacturers Life Insurance Company grew its position in Pinterest by 12.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,153 shares of the company's stock worth $1,902,000 after purchasing an additional 4,712 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

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.