Pinterest (NYSE:PINS) Price Target Cut to $39.00 by Analysts at Bank of America

Pinterest (NYSE:PINS) had its target price dropped by investment analysts at Bank of America from $44.00 to $39.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 18.61% from the company’s previous close.

Several other analysts have also issued reports on PINS. Wedbush upped their target price on Pinterest from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Monness Crespi & Hardt cut shares of Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday. Wall Street Zen cut shares of Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Guggenheim reiterated a “buy” rating on shares of Pinterest in a research report on Tuesday, September 2nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $40.00 price target on shares of Pinterest in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.40.

Pinterest Trading Down 2.4%

PINS stock opened at $32.88 on Wednesday. The company’s 50 day moving average is $34.19 and its 200 day moving average is $33.87. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. Pinterest has a 1-year low of $23.68 and a 1-year high of $40.90.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The company had revenue of $665.93 million for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. As a group, sell-side analysts forecast that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total transaction of $40,250.00. Following the completion of the sale, the director owned 30,600 shares of the company’s stock, valued at approximately $1,071,000. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total value of $795,311.85. Following the sale, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 640,236 shares of company stock worth $22,878,326. 7.11% of the stock is owned by company insiders.

Institutional Trading of Pinterest

Several large investors have recently added to or reduced their stakes in the stock. Snowden Capital Advisors LLC boosted its holdings in Pinterest by 4.4% in the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after acquiring an additional 296 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Pinterest by 10.1% in the second quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock valued at $115,000 after acquiring an additional 300 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Pinterest by 3.9% in the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after acquiring an additional 358 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its holdings in Pinterest by 3.6% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after acquiring an additional 359 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC boosted its holdings in Pinterest by 5.8% in the second quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after acquiring an additional 361 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.