The Goldman Sachs Group Cuts Pinterest (NYSE:PINS) Price Target to $40.00

Pinterest (NYSE:PINS) had its price target trimmed by The Goldman Sachs Group from $47.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on PINS. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $34.00 to $47.00 in a report on Friday, February 7th. KeyCorp decreased their price target on Pinterest from $41.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Bank of America dropped their price objective on Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Oppenheimer lifted their target price on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays increased their price target on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.81.

Pinterest Trading Down 2.3 %

Shares of Pinterest stock opened at $25.40 on Monday. The firm has a market capitalization of $17.23 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19. The business’s 50-day moving average price is $32.83 and its 200-day moving average price is $32.02.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the sale, the director now owns 6,274 shares in the company, valued at $196,187.98. This represents a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $32.24, for a total transaction of $395,036.72. Following the completion of the transaction, the insider now owns 228,510 shares of the company’s stock, valued at approximately $7,367,162.40. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 452,686 shares of company stock valued at $14,797,342. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after acquiring an additional 12,986,310 shares during the last quarter. Norges Bank purchased a new stake in Pinterest in the fourth quarter worth approximately $358,205,000. Marshall Wace LLP grew its position in Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock worth $310,352,000 after purchasing an additional 6,129,985 shares during the period. Ameriprise Financial Inc. raised its stake in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after buying an additional 4,527,902 shares during the last quarter. Finally, Contour Asset Management LLC bought a new position in shares of Pinterest during the 4th quarter valued at $86,330,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.