Pinterest (NYSE:PINS) Shares Down 2.5%

Shares of Pinterest, Inc. (NYSE:PINS) traded down 2.5% on Friday . The company traded as low as $40.67 and last traded at $41.06. 427,922 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 9,183,282 shares. The stock had previously closed at $42.12.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein lifted their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Wells Fargo & Company boosted their price target on shares of Pinterest from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. Royal Bank of Canada boosted their price target on shares of Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus boosted 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. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.04.

Pinterest Trading Down 1.7 %

The stock has a market capitalization of $28.28 billion, a price-to-earnings ratio of 200.58, a PEG ratio of 4.17 and a beta of 0.97. The stock’s 50 day moving average is $42.72 and its 200 day moving average is $38.27.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. On average, sell-side analysts anticipate that Pinterest, Inc. 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 transaction of $481,590.34. Following the transaction, the insider now directly owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $481,590.34. Following the transaction, the insider now directly owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total transaction of $168,795.50. Following the transaction, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The disclosure for this sale can be found here. Insiders have sold 52,184 shares of company stock valued at $2,255,783 in the last ninety days. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of hedge funds have recently made changes to their positions in PINS. Vanguard Group Inc. boosted its holdings in Pinterest by 1.8% in the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after purchasing an additional 994,848 shares during the period. Franklin Resources Inc. boosted its holdings in Pinterest by 34.0% in the fourth 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. Baillie Gifford & Co. boosted its holdings in Pinterest by 12.6% in the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after purchasing an additional 1,043,173 shares during the period. Capital World Investors boosted its holdings in Pinterest by 0.7% in the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after purchasing an additional 64,270 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Pinterest by 2.2% in the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock worth $283,592,000 after purchasing an additional 176,540 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.