Pinterest (NYSE:PINS) PT Lowered to $41.00

Pinterest (NYSE:PINS) had its price objective reduced by Robert W. Baird from $44.00 to $41.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

PINS has been the topic of a number of other reports. Sanford C. Bernstein raised their target price on shares of Pinterest from $35.00 to $38.00 and gave the company a market perform rating in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their price target on Pinterest from $49.00 to $41.00 and set an overweight rating on the stock in a research report on Wednesday. Morgan Stanley boosted their price objective on Pinterest from $35.00 to $38.00 and gave the stock an equal weight rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their target price on Pinterest from $44.00 to $50.00 and gave the company a buy rating in a report on Tuesday, July 9th. Finally, Barclays reduced their price objective on Pinterest from $38.00 to $36.00 and set an equal weight rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $42.71.

Pinterest Price Performance

NYSE PINS opened at $29.10 on Wednesday. Pinterest has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The stock’s 50-day moving average is $41.47 and its two-hundred day moving average is $38.39. The firm has a market cap of $19.88 billion, a P/E ratio of 138.58, a price-to-earnings-growth ratio of 3.13 and a beta of 0.97.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm’s revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS. On average, equities analysts expect that Pinterest will post 0.44 EPS for the current year.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total transaction of $81,711.50. Following the transaction, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,250 shares of company stock valued at $2,191,304. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in Pinterest in the 4th quarter valued at $27,000. Rakuten Securities Inc. bought a new position in Pinterest in the fourth quarter valued at about $30,000. Hexagon Capital Partners LLC increased its position in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the period. Rothschild Investment LLC bought a new stake in Pinterest during the 2nd quarter worth about $35,000. Finally, Quent Capital LLC lifted its position in Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 460 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.