Morgan Stanley Cuts Pinterest (NYSE:PINS) Price Target to $28.00

Pinterest (NYSE:PINS) had its target price trimmed by Morgan Stanley from $42.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also issued reports on the stock. Wedbush reiterated an “outperform” rating on shares of Pinterest in a research report on Tuesday. Wells Fargo & Company decreased their price objective on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Oppenheimer raised their price objective on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. UBS Group cut their target price on Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Cantor Fitzgerald lifted their price target on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average price target of $41.55.

Pinterest Trading Down 1.1 %

Shares of NYSE PINS opened at $25.17 on Thursday. Pinterest has a 12-month low of $23.68 and a 12-month high of $45.19. The company has a market cap of $17.07 billion, a PE ratio of 9.36, a P/E/G ratio of 1.95 and a beta of 0.99. The stock has a 50 day simple moving average of $32.25 and a 200-day simple moving average of $31.91.

Pinterest (NYSE:PINS) last announced 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 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the transaction, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 452,686 shares of company stock valued at $14,797,342. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Large investors have recently made changes to their positions in the company. Leibman Financial Services Inc. grew its position in Pinterest by 102.2% in the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock worth $1,862,000 after acquiring an additional 32,464 shares in the last quarter. Janney Capital Management LLC acquired a new position in Pinterest during the fourth quarter worth $4,289,000. Jones Financial Companies Lllp lifted its position in shares of Pinterest by 91.3% in the fourth quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock worth $725,000 after buying an additional 11,925 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Pinterest during the 4th quarter worth about $520,000. Finally, Swedbank AB raised its stake in shares of Pinterest by 2,108.7% in the 4th quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock valued at $38,137,000 after acquiring an additional 1,255,513 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

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.