Pinterest (NYSE:PINS) Given New $45.00 Price Target at Stifel Nicolaus

Pinterest (NYSE:PINS) had its price target dropped by equities research analysts at Stifel Nicolaus from $46.00 to $45.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 39.53% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Wedbush reduced their price objective on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday. Robert W. Baird lowered their price target on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday. Barclays dropped their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Roth Mkm lowered their target price on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $48.00 target price on shares of Pinterest in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.22.

Pinterest Stock Down 13.7 %

Shares of NYSE:PINS traded down $5.10 during mid-day trading on Wednesday, reaching $32.25. 22,034,598 shares of the stock were exchanged, compared to its average volume of 9,381,736. The stock’s 50 day simple moving average is $42.11 and its 200-day simple moving average is $38.53. Pinterest has a one year low of $23.59 and a one year high of $45.19. The company has a market cap of $22.03 billion, a P/E ratio of 154.29, a P/E/G ratio of 3.65 and a beta of 0.97.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm’s revenue was up 20.6% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. Analysts anticipate that Pinterest will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the transaction, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the sale, the insider now owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on 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 transaction, the director now directly owns 29,712 shares in the company, valued at $1,255,332. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock worth $2,191,304 in the last 90 days. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Pinterest by 1.8% during the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after acquiring an additional 994,848 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Pinterest by 9.5% in the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after acquiring an additional 880,398 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after acquiring an additional 2,548,925 shares during the period. Capital World Investors boosted its stake in Pinterest by 0.7% during the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after acquiring an additional 64,270 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Pinterest by 2.2% in the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock worth $283,592,000 after purchasing an additional 176,540 shares during the period. Institutional investors and hedge funds 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.