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

Pinterest, Inc. (NYSE:PINS) saw some unusual options trading on Monday. Traders purchased 73,157 call options on the company. This represents an increase of approximately 85% compared to the typical volume of 39,579 call options.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PINS shares. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Raymond James reduced their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a research report on Monday, October 7th. 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 report on Friday, November 8th. Finally, UBS Group lowered their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.65.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,287 shares of company stock worth $1,547,820. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several large investors have recently added to or reduced their stakes in PINS. Wilmington Savings Fund Society FSB acquired a new position in Pinterest in the third quarter valued at $87,000. Sanctuary Advisors LLC boosted its position in Pinterest by 42.2% during the third quarter. Sanctuary Advisors LLC now owns 124,353 shares of the company’s stock worth $3,733,000 after purchasing an additional 36,925 shares in the last quarter. TCW Group Inc. increased its holdings in Pinterest by 14.6% during the 3rd quarter. TCW Group Inc. now owns 690,082 shares of the company’s stock valued at $22,338,000 after acquiring an additional 88,086 shares in the last quarter. Toronto Dominion Bank increased its position in Pinterest by 36.7% during the third quarter. Toronto Dominion Bank now owns 77,842 shares of the company’s stock worth $2,520,000 after buying an additional 20,881 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after acquiring an additional 76,920 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Price Performance

Shares of PINS stock traded up $0.76 during trading hours on Monday, hitting $33.04. The company had a trading volume of 8,141,955 shares, compared to its average volume of 9,621,479. The company’s fifty day moving average is $31.77 and its 200 day moving average is $34.97. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock has a market capitalization of $22.33 billion, a PE ratio of 107.60, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02.

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.