Robert W. Baird Trims Pinterest (NYSE:PINS) Target Price to $41.00

Pinterest (NYSE:PINS) had its price objective lowered by Robert W. Baird from $44.00 to $41.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

PINS has been the topic of a number of other research reports. Benchmark restated a hold rating on shares of Pinterest in a report on Wednesday, May 1st. Piper Sandler lowered their price target on Pinterest from $52.00 to $45.00 and set an overweight rating on the stock in a report on Wednesday. Wolfe Research assumed coverage on shares of Pinterest in a research note on Tuesday, July 16th. They issued a peer perform rating on the stock. Rosenblatt Securities restated a buy rating and issued a $48.00 price objective on shares of Pinterest in a research note on Wednesday. Finally, BMO Capital Markets raised their price objective on shares of Pinterest from $45.00 to $46.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Pinterest presently has a consensus rating of Moderate Buy and an average price target of $42.07.

Pinterest Price Performance

NYSE PINS opened at $31.94 on Wednesday. The company has a 50 day simple moving average of $41.92 and a 200-day simple moving average of $38.49. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of 152.10, a price-to-earnings-growth ratio of 3.64 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 quarterly 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. The business had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 7.04%. The firm’s revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. On average, analysts predict that Pinterest will post 0.44 EPS for the current year.

Insider Activity

In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated Wednesday, May 15th. The stock was 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 in the company, valued at $1,255,332. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated Wednesday, May 15th. The stock was 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 in the company, valued at $1,255,332. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of 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. Over the last ninety days, insiders sold 50,250 shares of company stock worth $2,191,304. 7.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in shares of Pinterest by 3,402.0% during the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after buying an additional 77,974 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Pinterest by 55.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after purchasing an additional 62,117 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Pinterest by 56.7% during the 4th quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock valued at $3,570,000 after purchasing an additional 34,876 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after purchasing an additional 51,455 shares in the last quarter. Finally, Contrarius Investment Management Ltd lifted its holdings in shares of Pinterest by 300.0% during the 4th quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock valued at $63,798,000 after purchasing an additional 1,291,854 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.