Pinterest (NYSE:PINS) Price Target Lowered to $40.00 at Raymond James

Pinterest (NYSE:PINS) had its price target lowered by Raymond James from $45.00 to $40.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $52.00 target price on shares of Pinterest in a research report on Monday. Sanford C. Bernstein raised their target price on Pinterest from $35.00 to $38.00 and gave the stock a market perform rating in a research report on Wednesday, May 1st. UBS Group dropped their price objective on Pinterest from $57.00 to $52.00 and set a buy rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Pinterest from $49.00 to $41.00 and set an overweight rating for the company in a research note on Wednesday. Finally, Benchmark reiterated a hold rating on shares of Pinterest in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $42.07.

Pinterest Trading Down 14.5 %

PINS opened at $31.94 on Wednesday. Pinterest has a 1-year low of $23.59 and a 1-year high of $45.19. The stock has a market capitalization of $21.82 billion, a price-to-earnings ratio of 152.10, a P/E/G ratio of 3.64 and a beta of 0.97. The business has a 50 day moving average of $41.92 and a 200-day moving average of $38.49.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a return on equity of 7.04% and a net margin of 5.75%. Pinterest’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business earned ($0.04) earnings per share. Equities analysts predict that Pinterest will post 0.44 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest 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 sale, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the sale, the insider now directly owns 307,256 shares in the company, valued at approximately $12,726,543.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,250 shares of company stock worth $2,191,304. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently modified their holdings of PINS. GAMMA Investing LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at about $27,000. Rakuten Securities Inc. acquired a new stake in shares of Pinterest in the fourth quarter valued at about $30,000. Hexagon Capital Partners LLC increased its stake in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Pinterest in the second quarter valued at about $35,000. Finally, Quent Capital LLC increased its stake in shares of Pinterest by 71.2% in the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 460 shares during the period. 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.