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

Pinterest, Inc. (NYSE:PINS - Get Free Report) saw some unusual options trading on Tuesday. Stock investors bought 67,345 call options on the stock. This is an increase of 74% compared to the average volume of 38,614 call options.

Pinterest Trading Up 2.4 %

Pinterest stock traded up $0.71 during trading hours on Tuesday, reaching $29.70. 7,881,507 shares of the stock were exchanged, compared to its average volume of 9,628,017. The stock has a 50 day moving average of $31.70 and a two-hundred day moving average of $36.10. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The company has a market cap of $20.07 billion, a P/E ratio of 97.27, a price-to-earnings-growth ratio of 2.02 and a beta of 1.02.

Wall Street Analyst Weigh In

PINS has been the subject of several research analyst reports. Citigroup dropped their price objective on Pinterest from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, November 8th. Morgan Stanley lifted their price target on Pinterest from $35.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, July 23rd. Stifel Nicolaus decreased their target price on shares of Pinterest from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Finally, Wedbush raised shares of Pinterest from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Insider Buying and Selling at Pinterest

In other Pinterest 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 transaction, the director now 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 filing with the SEC, which is available through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were 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 directly owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in shares of Pinterest in the third quarter worth about $153,829,000. Southpoint Capital Advisors LP acquired a new stake in Pinterest during the 3rd quarter valued at approximately $123,006,000. Ontario Teachers Pension Plan Board raised its stake in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock worth $285,248,000 after buying an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of Pinterest in the 2nd quarter worth about $98,655,000. Finally, Ninety One UK Ltd lifted its stake in Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company's stock valued at $239,991,000 after buying an additional 1,679,348 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.