Investors Buy Large Volume of Pinterest Call Options (NYSE:PINS)

Pinterest, Inc. (NYSE:PINS) saw some unusual options trading activity on Tuesday. Traders purchased 51,502 call options on the company. This represents an increase of 46% compared to the typical daily volume of 35,161 call options.

Pinterest Stock Performance

Shares of Pinterest stock opened at $34.87 on Thursday. The firm has a 50-day moving average of $36.27 and a 200-day moving average of $33.14. The stock has a market cap of $23.68 billion, a PE ratio of -581.07, a PEG ratio of 4.79 and a beta of 1.00. Pinterest has a 52-week low of $20.60 and a 52-week high of $41.60.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The business had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Equities research analysts predict that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 154,250 shares of company stock worth $5,484,246 over the last ninety days. Insiders own 6.85% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of PINS. Cohanzick Management LLC bought a new stake in Pinterest during the first quarter worth about $25,000. GAMMA Investing LLC bought a new stake in Pinterest during the fourth quarter worth about $27,000. Quarry LP bought a new stake in Pinterest during the fourth quarter worth about $27,000. Rakuten Securities Inc. acquired a new position in Pinterest during the fourth quarter worth about $30,000. Finally, Washington Trust Advisors Inc. raised its stake in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Pinterest in a report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $48.00 target price on shares of Pinterest in a report on Tuesday. Evercore ISI boosted their target price on shares of Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price objective on shares of Pinterest in a report on Friday, February 9th. Finally, Roth Mkm upped their price objective on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

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.