Pinterest (NYSE:PINS) Price Target Cut to $38.00 by Analysts at Citigroup

Pinterest (NYSE:PINS) had its price objective cut by Citigroup from $47.00 to $38.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on PINS. JPMorgan Chase & Co. reduced their price objective on Pinterest from $42.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Roth Capital set a $32.00 target price on shares of Pinterest in a research report on Monday, February 3rd. Guggenheim restated a “buy” rating on shares of Pinterest in a report on Tuesday, April 1st. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $34.00 to $47.00 in a report on Friday, February 7th. Finally, Raymond James cut Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday, April 7th. Eight analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $41.81.

Pinterest Trading Down 2.0 %

PINS stock opened at $25.84 on Monday. The stock has a market cap of $17.53 billion, a PE ratio of 9.61, a P/E/G ratio of 1.95 and a beta of 0.99. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19. The company has a 50-day moving average price of $33.27 and a 200 day moving average price of $32.11.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts forecast that Pinterest will post 0.6 EPS for the current year.

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total value of $3,192,135.41. Following the transaction, the director now directly owns 6,274 shares in the company, valued at approximately $196,187.98. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after purchasing an additional 12,986,310 shares during the last quarter. Norges Bank purchased a new position in shares of Pinterest during the fourth quarter worth about $358,205,000. Marshall Wace LLP increased its holdings in shares of Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after purchasing an additional 6,129,985 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC purchased a new stake in Pinterest in the 4th quarter valued at approximately $86,330,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Company Profile

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.