Pinterest (NYSE:PINS) PT Lowered to $40.00 at Raymond James

Pinterest (NYSE:PINS) had its price objective cut by analysts at Raymond James from $45.00 to $40.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target suggests a potential upside of 22.85% from the stock’s current price.

Several other brokerages have also weighed in on PINS. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday. Robert W. Baird lowered their price objective on Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday. Wolfe Research initiated coverage on Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Morgan Stanley lifted their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, 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 note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Pinterest Trading Down 12.8 %

NYSE:PINS traded down $4.79 during mid-day trading on Wednesday, hitting $32.56. The company had a trading volume of 24,853,480 shares, compared to its average volume of 9,397,811. The business has a fifty day simple moving average of $42.11 and a 200-day simple moving average of $38.53. Pinterest has a 1 year low of $23.59 and a 1 year high of $45.19. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of 155.10, a PEG ratio of 3.65 and a beta of 0.97.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, research analysts anticipate that Pinterest will post 0.44 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were 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 approximately $8,317,733. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Thursday, June 27th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 50,250 shares of company stock valued at $2,191,304. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PINS. GAMMA Investing LLC bought a new position in shares of Pinterest in the fourth quarter valued at $27,000. Rakuten Securities Inc. bought a new stake in Pinterest in the fourth quarter worth about $30,000. Hexagon Capital Partners LLC increased its stake in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Pinterest in the second quarter worth about $35,000. Finally, Quent Capital LLC increased its stake in shares of Pinterest by 71.2% in the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 460 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

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.