Pinterest Inc. (NYSE: PINS): Do Not Miss The Gain Train


    The Vanguard Group, Inc. has recently announced that it has increased stake in Pinterest Inc. (NYSE:PINS) by 29.77%. After grabbing 31.53 million shares, the institutional investor is now in possession of 7.23 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 7.82% having worth around $1.08 billion. Moreover, Harris Associates LP increased its share by 4.74 million to have a control over 16.52 million shares. And Capital Research & Management Co.. raised its holdings to 1.97 million shares by acquiring 13.47 million shares or 3.34% of the stake.

    Pinterest Inc. (PINS) concluded trading on 08/27/20 at a closing price of $34.49, with 10.75 million shares of worth about $370.7 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -0.03% during that period and on Thursday the price saw a gain of about 0.52%. Currently the company’s common shares owned by public are about 586.74M shares, out of which, 459.78M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 27 analysts are covering the PINS stock and their offered price forecasts bring an average price target of $37.02. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $50.00 and could fall to a lowest price of $18.00. Analysts also issued an outlook of 2.40 for the Pinterest Inc. stock for next 12 months. The stock’s current price level is 5.69% above of average price target set by the analysts, while a rise to estimated low would result in loss of -91.61 for the stock. However, touching the estimated high of $50.00 would mean a gain of 31.02% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 222 times over the past 12 months. They bought 118,386,624 shares in 111 of the transactions. In 111 selling transactions, insiders dumped 104,461,901 shares.

    Flossbach von Storch SICAV – Mult, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Pinterest Inc. Flossbach von Storch SICAV – Mult is currently holding 15.15 million shares of worth totaling $519.56 million. The company recently came buying 15.15 million shares which brought its stake up to 3.76% of the company’s outstanding shares. Vanguard Total Stock Market Index sold 37091.0 shares, after which its hold over company’s outstanding shares shrunk to 2.85%, leaving 11.49 million shares with the mutual fund that have a worth of about $394.16 million. Vanguard Mid Cap Index Fund, after selling 9.9 million shares, have now control over 2.45% of the stake in the company. It holds 76099.0 shares of worth $339.51 million.

    Pinterest Inc. (NYSE: PINS) started trading at $34.43, above $0.12 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $34.49, or with a gain of 0.52%. Stock saw a price change of -0.03% in past 5 days and over the past one month there was a price change of 38.24%. Year-to-date (YTD), PINS shares are showing a performance of 85.03% which increased to 1.68% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $10.10 but also hit the highest price of $38.23 during that period. While comparing its average daily trading volume of 15.98 million shares, we see that about 10.75 million changed hands on the day. The stock is currently trading 0.25% above its 20-day simple moving average (SMA20), while that difference is up 21.47% for SMA50 and it goes to 60.85% higher than SMA200.

    The Vanguard Group, Inc. acquired 31.53 million shares of Pinterest Inc. having value of about $1.08 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 7.23 million shares in the company valued at close to $249515939.07, or have control over 29.77% stake in the company. Pinterest Inc. (NYSE: PINS) currently have 586.74M outstanding shares and institutions hold larger chunk of about 72.00% of that. Holding of mutual funds in the company is about 4.07% while other institutional holders and individual stake holders have control over 40.12% and 37.70% of the stake respectively.

    The stock has a current market capitalization of $20.90B. It has posted earnings per share of -$0.69 in the same period. It has Quick Ratio of 11.80 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PINS, volatility over the week remained 4.10% while standing at 5.20% over the month.

    Analysts are in expectations that Pinterest Inc. (PINS) stock would likely to be making an EPS of $0.02 in the current quarter, while forecast for next quarter ESPS is $0.17 and it is $0.21 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.05 which is $0.1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.01 in the same quarter a year ago.

    Analysts at 27 brokerage firms have issued recommendations for the Pinterest Inc. (PINS)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 27 Wall Street analysts, 10 recommended a “Buy” rating, while 14 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on August 24, 2020 offering a Neutral rating for the stock and assigned a target price range of between $25 and $35 to it. Coverage by Morgan Stanley stated Pinterest Inc. (PINS) stock as an Overweight in their note to investors on August 10, 2020, suggesting a price target of $44 for the stock. On August 03, 2020, UBS Upgrade their recommendations, while on August 03, 2020, Pivotal Research Group Upgrade their ratings for the stock with a price target of $44.50. Stock get an Equal-weight rating from Morgan Stanley on June 26, 2020.


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