Pinterest (NYSE:PINS) PT Lowered to $43.00

Pinterest (NYSE:PINS) had its price objective lowered by stock analysts at KeyCorp from $45.00 to $43.00 in a research note issued on Wednesday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 37.64% from the stock’s current price.

A number of other research analysts also recently commented on PINS. Rosenblatt Securities reissued a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. Loop Capital boosted their price target on Pinterest from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Stifel Nicolaus raised their price objective on Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their target price on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Citigroup dropped their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday. Nine 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.07.

Pinterest Stock Performance

NYSE PINS opened at $31.24 on Wednesday. Pinterest has a 52 week low of $23.59 and a 52 week high of $45.19. The stock’s 50 day moving average price is $41.72 and its two-hundred day moving average price is $38.44. The stock has a market capitalization of $21.34 billion, a price-to-earnings ratio of 148.77, a PEG ratio of 3.12 and a beta of 0.97.

Pinterest (NYSE:PINS) last announced 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. Pinterest had a net margin of 5.75% and a return on equity of 7.04%. The business had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue was up 20.6% on a year-over-year basis. On average, equities research analysts forecast that Pinterest will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the transaction, the insider now owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the transaction, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the sale, the insider now directly owns 307,256 shares in the company, valued at $12,726,543.52. 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. 7.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Pinterest by 1.8% during the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after acquiring an additional 994,848 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock worth $445,818,000 after purchasing an additional 880,398 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Pinterest by 34.0% in the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after purchasing an additional 2,548,925 shares during the period. Capital World Investors boosted its stake in shares of Pinterest by 0.7% in the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after purchasing an additional 64,270 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Pinterest by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock valued at $283,592,000 after purchasing an additional 176,540 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.