Pinterest (NYSE:PINS) PT Lowered to $36.00

Pinterest (NYSE:PINS) had its target price reduced by Barclays from $38.00 to $36.00 in a report released on Wednesday morning, MarketBeat.com reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $52.00 price target on shares of Pinterest in a report on Monday, July 29th. Wells Fargo & Company reduced their target price on shares of Pinterest from $49.00 to $41.00 and set an overweight rating on the stock in a report on Wednesday. Benchmark reaffirmed a hold rating on shares of Pinterest in a research note on Wednesday, May 1st. 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 note on Wednesday, May 1st. Finally, Wolfe Research began coverage on Pinterest in a research report on Tuesday, July 16th. They set a peer perform rating for the company. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $42.71.

Pinterest Stock Performance

Shares of NYSE PINS opened at $29.10 on Wednesday. The stock has a market capitalization of $19.88 billion, a P/E ratio of 138.58, a PEG ratio of 3.13 and a beta of 0.97. The stock’s fifty day moving average is $41.47 and its 200 day moving average is $38.39. Pinterest has a 52 week low of $23.59 and a 52 week high of $45.19.

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. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. Equities research analysts forecast that Pinterest will post 0.44 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest 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 transaction, the director now owns 29,712 shares in the company, valued at $1,255,332. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Andrea Acosta sold 2,564 shares of the company’s 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 sale, the chief accounting officer now owns 186,906 shares in the company, valued at $8,410,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value 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 $1,255,332. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,250 shares of company stock valued at $2,191,304. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in Pinterest by 55.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after purchasing an additional 62,117 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after buying an additional 557 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Pinterest by 396.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,300 shares of the company’s stock worth $48,000 after buying an additional 1,038 shares during the last quarter. Camelot Portfolios LLC boosted its stake in shares of Pinterest by 15.9% in the 4th quarter. Camelot Portfolios LLC now owns 19,642 shares of the company’s stock worth $728,000 after buying an additional 2,700 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Pinterest in the fourth quarter valued at approximately $926,000. 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.