JPMorgan Chase & Co. Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price target trimmed by JPMorgan Chase & Co. from $42.00 to $30.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group lifted their target price on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Guggenheim reissued a “buy” rating on shares of Pinterest in a report on Tuesday, April 1st. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, January 10th. KeyCorp dropped their price objective on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Finally, Morgan Stanley lifted their target price on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.07.

Pinterest Trading Down 3.2 %

PINS opened at $24.58 on Tuesday. Pinterest has a 12-month low of $23.68 and a 12-month high of $45.19. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.95 and a beta of 0.99. The company’s 50 day moving average is $33.89 and its 200 day moving average is $32.28.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, analysts predict that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28. Following the completion of the sale, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $195,497.84. The trade was a 94.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock worth $14,832,336 in the last three months. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors have recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Pinterest by 2.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after purchasing an additional 342 shares during the period. Ethos Financial Group LLC boosted its stake in shares of Pinterest by 3.1% during the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock valued at $342,000 after buying an additional 350 shares during the last quarter. Amalgamated Bank grew its position in shares of Pinterest by 0.9% during the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after buying an additional 372 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares during the last quarter. Finally, Steph & Co. boosted its stake in Pinterest by 6.4% during the 4th quarter. Steph & Co. now owns 7,048 shares of the company’s stock valued at $204,000 after acquiring an additional 425 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

About Pinterest

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.