Pinterest (NYSE:PINS) PT Lowered to $37.00

Pinterest (NYSE:PINS) had its price objective dropped by equities research analysts at Wedbush from $46.00 to $37.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s target price indicates a potential upside of 12.63% from the company’s current price.

PINS has been the topic of a number of other reports. Loop Capital increased their price target on shares of Pinterest from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Susquehanna decreased their price objective on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday. Stifel Nicolaus upped their price objective on shares of Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. KeyCorp decreased their price objective on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Pinterest Trading Down 12.0 %

Shares of Pinterest stock traded down $4.50 on Wednesday, reaching $32.85. The stock had a trading volume of 20,904,445 shares, compared to its average volume of 9,373,995. Pinterest has a 1 year low of $23.59 and a 1 year high of $45.19. The company has a market cap of $22.44 billion, a P/E ratio of 154.29, a price-to-earnings-growth ratio of 3.65 and a beta of 0.97. The business’s 50 day moving average is $42.11 and its two-hundred day moving average is $38.53.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities analysts anticipate that Pinterest will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated 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 transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The disclosure for this sale can be found here. Insiders sold 50,250 shares of company stock valued at $2,191,304 over the last quarter. 7.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinterest

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings in Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after buying an additional 77,974 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Pinterest by 55.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after buying an additional 62,117 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Pinterest by 56.7% in the 4th quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after buying an additional 34,876 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Pinterest by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after buying an additional 51,455 shares in the last quarter. Finally, Contrarius Investment Management Ltd increased its holdings in Pinterest by 300.0% in the 4th quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock worth $63,798,000 after buying an additional 1,291,854 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

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.