Pinterest, Inc. (NYSE:PINS – Get Free Report)’s share price gapped down prior to trading on Wednesday after Evercore ISI lowered their price target on the stock from $50.00 to $48.00. The stock had previously closed at $37.35, but opened at $34.51. Evercore ISI currently has an outperform rating on the stock. Pinterest shares last traded at $33.97, with a volume of 2,991,574 shares trading hands.
A number of other analysts have also recently commented on PINS. Raymond James cut their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday. Robert W. Baird dropped their price objective on shares of Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday. Roth Mkm decreased their target price on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday. Sanford C. Bernstein increased their price target on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Finally, BMO Capital Markets raised their price objective on Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Nine research 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 company presently has an average rating of “Moderate Buy” and an average price target of $42.07.
Insider Buying and Selling
In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $12,726,543.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction 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 transaction, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the transaction, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The disclosure for this sale can be found here. Insiders sold a total of 50,250 shares of company stock valued at $2,191,304 over the last 90 days. Insiders own 7.11% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in Pinterest in the fourth quarter worth approximately $27,000. 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 purchasing an additional 459 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Pinterest during the second quarter worth $35,000. Rakuten Securities Inc. acquired a new stake in Pinterest in the fourth quarter valued at $30,000. Finally, International Assets Investment Management LLC purchased a new stake in Pinterest during the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.
Pinterest Trading Down 14.4 %
The business has a fifty day moving average price of $42.11 and a 200 day moving average price of $38.53. The firm has a market cap of $21.84 billion, a PE ratio of 155.10, a P/E/G ratio of 3.65 and a beta of 0.97.
Pinterest (NYSE:PINS – Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. On average, research analysts expect that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.
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.