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

Pinterest (NYSE:PINS) had its target price cut by Stifel Nicolaus from $50.00 to $36.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on PINS. Morgan Stanley decreased their price objective on shares of Pinterest from $42.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Bank of America lowered their price target on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Wedbush reiterated an “outperform” rating on shares of Pinterest in a research note on Tuesday, April 15th. UBS Group lowered their target price on Pinterest from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target on Pinterest from $47.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.10.

Pinterest Trading Up 3.8 %

NYSE PINS opened at $25.62 on Wednesday. The firm’s fifty day simple moving average is $31.40 and its two-hundred day simple moving average is $31.75. The firm has a market capitalization of $17.38 billion, a P/E ratio of 9.52, a P/E/G 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.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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, sell-side analysts predict that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeremy S. Levine sold 50,535 shares of Pinterest stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the transaction, the director now directly owns 1,156,693 shares in the company, valued at $39,304,428.14. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 452,686 shares of company stock worth $14,797,342 over the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

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

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.