Barclays Cuts Pinterest (NYSE:PINS) Price Target to $36.00

Pinterest (NYSE:PINS) had its price target trimmed by Barclays from $38.00 to $36.00 in a report issued on Wednesday, Marketbeat reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms also recently weighed in on PINS. Benchmark restated a hold rating on shares of Pinterest in a research note on Wednesday, May 1st. Wedbush restated a neutral rating and issued a $46.00 target price on shares of Pinterest in a research report on Wednesday, July 24th. BMO Capital Markets upped their price target on shares of Pinterest from $45.00 to $46.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Piper Sandler cut their price objective on Pinterest from $52.00 to $45.00 and set an overweight rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $48.00 target price (up previously from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $42.71.

Pinterest Price Performance

Shares of PINS opened at $29.10 on Wednesday. The firm has a 50 day simple moving average of $41.47 and a two-hundred day simple moving average of $38.38. Pinterest has a one year low of $23.59 and a one year high of $45.19. The company has a market cap of $19.88 billion, a P/E ratio of 138.58, a P/E/G ratio of 3.13 and a beta of 0.97.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. Pinterest’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, analysts expect that Pinterest will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total transaction of $481,590.34. Following the transaction, the insider now owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the transaction, the insider now directly owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at approximately $8,317,733. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,250 shares of company stock valued at $2,191,304. Corporate insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several large investors have recently added to or reduced their stakes in the business. Leibman Financial Services Inc. increased its holdings in Pinterest by 0.9% during the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after purchasing an additional 266 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in shares of Pinterest by 1.7% during the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock valued at $598,000 after buying an additional 267 shares during the last quarter. Raymond James Trust N.A. grew its holdings in Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after buying an additional 319 shares in the last quarter. Venture Visionary Partners LLC raised its position in Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after buying an additional 324 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Pinterest by 40.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after purchasing an additional 378 shares during 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.