Pinterest (NYSE:PINS) Lowered to Neutral Rating by Wedbush

Pinterest (NYSE:PINS) was downgraded by equities researchers at Wedbush from an “outperform” rating to a “neutral” rating in a report issued on Monday. They presently have a $30.00 price target on the stock. Wedbush’s price target points to a potential upside of 12.11% from the company’s previous close.

Several other analysts have also recently commented on the stock. Monness Crespi & Hardt cut shares of Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 5th. Sanford C. Bernstein decreased their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Evercore ISI decreased their price target on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Morgan Stanley lowered their price objective on Pinterest from $41.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Finally, Wall Street Zen cut Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.97.

Pinterest Stock Performance

Pinterest stock opened at $26.76 on Monday. The business’s fifty day moving average is $29.73 and its two-hundred day moving average is $33.51. The firm has a market cap of $18.08 billion, a P/E ratio of 9.29, a P/E/G ratio of 1.70 and a beta of 0.89. Pinterest has a 52 week low of $23.68 and a 52 week high of $40.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $665.93 million for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. On average, equities research analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares in the company, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 403,125 shares of company stock worth $13,669,759. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of hedge funds and other institutional investors have recently made changes to their positions in PINS. Renaissance Group LLC raised its stake in Pinterest by 4.5% in the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock valued at $36,548,000 after acquiring an additional 43,541 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Pinterest by 243.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock valued at $2,490,000 after acquiring an additional 49,204 shares in the last quarter. KLP Kapitalforvaltning AS grew its position in Pinterest by 8.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock worth $14,781,000 after acquiring an additional 30,500 shares during the last quarter. Norges Bank bought a new position in Pinterest in the second quarter valued at about $477,853,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Pinterest by 101.2% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock valued at $3,875,000 after buying an additional 54,365 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.