Pinterest (NYSE:PINS) PT Lowered to $45.00 at Stifel Nicolaus

Pinterest (NYSE:PINS) had its price objective reduced by investment analysts at Stifel Nicolaus from $46.00 to $45.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 39.53% from the company’s current price.

A number of other research analysts have also recently commented on PINS. Citigroup reduced their price target on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday. Susquehanna reduced their target price on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a report on Wednesday. Loop Capital raised their target price on Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Piper Sandler decreased their price objective on Pinterest from $52.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $48.00 price target on shares of Pinterest in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $42.22.

Pinterest Stock Performance

NYSE PINS traded down $5.10 on Wednesday, hitting $32.25. The stock had a trading volume of 22,034,598 shares, compared to its average volume of 9,381,736. The firm has a 50-day moving average of $42.11 and a 200-day moving average of $38.53. The company has a market capitalization of $22.03 billion, a price-to-earnings ratio of 154.29, a price-to-earnings-growth ratio of 3.65 and a beta of 0.97. Pinterest has a 52-week low of $23.59 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last posted 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. The business had revenue of $853.68 million during 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 firm’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. As a group, research analysts anticipate that Pinterest will post 0.44 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the transaction, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at $8,410,770. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,250 shares of company stock valued at $2,191,304. Corporate insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in shares of Pinterest in the 4th quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new position in Pinterest during the fourth quarter worth $30,000. Hexagon Capital Partners LLC increased its position in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Pinterest in the second quarter valued at $35,000. Finally, Quent Capital LLC lifted its holdings in shares of Pinterest by 71.2% in the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after acquiring an additional 460 shares during the last quarter. Hedge funds and other institutional investors 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.