Pinterest (NYSE:PINS) Price Target Cut to $45.00 by Analysts at Stifel Nicolaus

Pinterest (NYSE:PINS) had its price target cut by Stifel Nicolaus from $46.00 to $45.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

PINS has been the topic of several other reports. Barclays dropped their price target on shares of Pinterest from $38.00 to $36.00 and set an equal weight rating on the stock in a research report on Wednesday. BMO Capital Markets raised their target price on shares of Pinterest from $45.00 to $46.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Loop Capital upped their price target on Pinterest from $43.00 to $49.00 and gave the company a buy rating in a report on Monday, May 6th. Wells Fargo & Company cut their price objective on Pinterest from $49.00 to $41.00 and set an overweight rating for the company in a research report on Wednesday. Finally, Citigroup decreased their target price on Pinterest from $51.00 to $44.00 and set a buy rating on the stock in a report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Pinterest has an average rating of Moderate Buy and a consensus price target of $42.71.

Pinterest Stock Down 6.9 %

Shares of NYSE PINS opened at $29.10 on Wednesday. The stock 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. The firm’s 50-day simple moving average is $41.47 and its 200 day simple moving average is $38.39. Pinterest has a fifty-two week low of $23.59 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same period in the prior year, the business posted ($0.04) EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Pinterest will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total transaction of $81,711.50. Following the completion of the sale, the director now directly owns 29,712 shares of the company’s stock, valued at approximately $1,255,332. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’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 completion of the transaction, the insider now directly owns 307,256 shares in the company, valued at $12,726,543.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total transaction of $81,711.50. Following the completion of the sale, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The disclosure for this sale can be found here. Insiders have sold a total of 50,250 shares of company stock worth $2,191,304 over the last 90 days. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of hedge funds have recently bought and sold shares of PINS. Vanguard Group Inc. lifted its stake in shares of Pinterest by 1.8% in the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after buying an additional 994,848 shares during the period. Baillie Gifford & Co. raised its holdings in Pinterest by 9.5% in the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after acquiring an additional 880,398 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Pinterest by 34.0% during 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 in the last quarter. Capital World Investors grew its holdings in shares of Pinterest by 0.7% during the 4th 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 in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Pinterest by 2.2% in the first 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 in the last quarter. 88.81% of the stock is 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.