Pinterest (NYSE:PINS) Price Target Lowered to $34.00 at Wells Fargo & Company

Pinterest (NYSE:PINS – Get Rating) had its price target reduced by Wells Fargo & Company from $37.00 to $34.00 in a research report report published on Tuesday, MarketBeat reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the stock. UBS Group lifted their target price on shares of Pinterest from $19.00 to $26.00 and gave the stock a neutral rating in a report on Tuesday. Barclays cut their target price on Pinterest from $24.00 to $20.00 and set an equal weight rating on the stock in a research note on Tuesday, July 5th. Morgan Stanley cut their target price on Pinterest from $21.00 to $18.00 and set an equal weight rating on the stock in a research note on Tuesday, July 19th. The Goldman Sachs Group cut their target price on Pinterest from $35.00 to $24.00 and set a neutral rating on the stock in a research note on Thursday, June 9th. Finally, Wedbush cut their target price on Pinterest from $39.00 to $26.00 in a research note on Thursday, April 28th. Nineteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Pinterest currently has a consensus rating of Hold and an average target price of $29.76.

Pinterest Price Performance

PINS stock opened at $22.55 on Tuesday. The company has a 50 day moving average price of $19.58 and a 200 day moving average price of $22.57. Pinterest has a fifty-two week low of $16.14 and a fifty-two week high of $66.00. The stock has a market capitalization of $14.96 billion, a PE ratio of 72.74, a price-to-earnings-growth ratio of 13.36 and a beta of 1.19.

Pinterest (NYSE:PINS – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). Pinterest had a return on equity of 8.35% and a net margin of 8.10%. The company had revenue of $666.00 million during the quarter, compared to the consensus estimate of $663.19 million. During the same quarter last year, the firm earned $0.11 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts expect that Pinterest will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Naveen Gavini sold 5,491 shares of the stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $20.00, for a total transaction of $109,820.00. Following the completion of the transaction, the senior vice president now directly owns 529,551 shares in the company, valued at $10,591,020. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Naveen Gavini sold 5,491 shares of the stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $20.00, for a total transaction of $109,820.00. Following the completion of the transaction, the senior vice president now directly owns 529,551 shares of the company’s stock, valued at $10,591,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William J. Ready purchased 222,551 shares of Pinterest stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average cost of $22.47 per share, with a total value of $5,000,720.97. Following the completion of the transaction, the chief executive officer now directly owns 222,551 shares of the company’s stock, valued at approximately $5,000,720.97. The disclosure for this purchase can be found here. Over the last three months, insiders sold 548,619 shares of company stock worth $10,307,146. 7.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. TFC Financial Management lifted its position in shares of Pinterest by 23.5% in the fourth quarter. TFC Financial Management now owns 2,287 shares of the company’s stock valued at $83,000 after buying an additional 435 shares during the last quarter. Argent Trust Co lifted its position in shares of Pinterest by 2.6% in the fourth quarter. Argent Trust Co now owns 18,713 shares of the company’s stock valued at $680,000 after buying an additional 470 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Pinterest by 5.7% in the fourth quarter. Blair William & Co. IL now owns 8,907 shares of the company’s stock valued at $324,000 after buying an additional 483 shares during the last quarter. Mengis Capital Management Inc. lifted its position in shares of Pinterest by 4.3% in the first quarter. Mengis Capital Management Inc. now owns 12,000 shares of the company’s stock valued at $295,000 after buying an additional 500 shares during the last quarter. Finally, Koss Olinger Consulting LLC lifted its position in shares of Pinterest by 7.2% in the fourth quarter. Koss Olinger Consulting LLC now owns 7,563 shares of the company’s stock valued at $275,000 after buying an additional 508 shares during the last quarter. 63.76% of the stock is owned by institutional investors and hedge funds.

About Pinterest

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.