Robert W. Baird Trims Pinterest (NYSE:PINS) Target Price to $41.00

Pinterest (NYSE:PINS) had its price objective trimmed by Robert W. Baird from $44.00 to $41.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also weighed in on PINS. Morgan Stanley raised their price objective on Pinterest from $35.00 to $38.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group lifted their price target on shares of Pinterest from $44.00 to $50.00 and gave the company a buy rating in a report on Tuesday, July 9th. Royal Bank of Canada reissued an outperform rating and issued a $52.00 price objective on shares of Pinterest in a research note on Monday, July 29th. Loop Capital boosted their target price on shares of Pinterest from $43.00 to $49.00 and gave the stock a buy rating in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. dropped their price target on Pinterest from $44.00 to $38.00 and set a neutral rating for the company in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $42.71.

Pinterest Stock Down 6.9 %

PINS stock opened at $29.10 on Wednesday. The company’s 50-day moving average price is $41.47 and its two-hundred day moving average price is $38.39. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19. The firm has a market cap of $19.88 billion, a P/E ratio of 138.58, a P/E/G ratio of 3.13 and a beta of 0.97.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company’s revenue was up 20.6% on a year-over-year basis. During the same period in the previous 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

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 transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s 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 sale, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. 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 90 days. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several large investors have recently bought and sold shares of PINS. GAMMA Investing LLC bought a new position in shares of Pinterest during the fourth quarter valued at about $27,000. Rakuten Securities Inc. purchased a new stake in Pinterest in the 4th quarter valued at about $30,000. Hexagon Capital Partners LLC lifted its position in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Pinterest in the 2nd quarter worth approximately $35,000. Finally, Quent Capital LLC grew its holdings 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 acquiring an additional 460 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

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.