Pinterest (NYSE:PINS) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Pinterest (NYSE:PINS) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

PINS has been the topic of several other research reports. Morgan Stanley boosted their target price on Pinterest from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 price target on Pinterest and gave the company a “neutral” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. Wedbush started coverage on Pinterest in a research report on Thursday, July 16th. They issued a “neutral” rating and a $24.00 price objective for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $28.00 target price on shares of Pinterest in a report on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.69.

Pinterest Stock Up 0.7%

Shares of NYSE:PINS opened at $24.18 on Friday. Pinterest has a fifty-two week low of $13.84 and a fifty-two week high of $39.83. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm’s 50-day simple moving average is $21.80 and its 200-day simple moving average is $20.51. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 1.42 and a beta of 0.90.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. As a group, equities research analysts predict that Pinterest will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 14,208 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $279,187.20. Following the sale, the insider owned 691,840 shares in the company, valued at $13,594,656. This represents a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $22.54, for a total value of $1,056,562.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 370,720 shares of company stock worth $7,892,627. Insiders own 8.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Snowden Capital Advisors LLC raised its position in Pinterest by 4.4% in the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after acquiring an additional 296 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Pinterest by 3.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after purchasing an additional 358 shares during the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Pinterest by 5.5% in the 4th quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock worth $265,000 after purchasing an additional 535 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Pinterest by 2.2% during the fourth quarter. CIBC Asset Management Inc now owns 26,434 shares of the company’s stock valued at $684,000 after purchasing an additional 560 shares during the last quarter. Finally, Coyle Financial Counsel LLC boosted its holdings in Pinterest by 5.9% during the fourth quarter. Coyle Financial Counsel LLC now owns 10,589 shares of the company’s stock worth $274,000 after buying an additional 587 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.