Royal Bank Of Canada Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price dropped by research analysts at Royal Bank Of Canada from $45.00 to $38.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 44.35% from the stock’s current price.

PINS has been the topic of a number of other research reports. Barclays lowered their target price on shares of Pinterest from $40.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday. TD Cowen increased their price objective on Pinterest from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, July 15th. Roth Capital cut their target price on Pinterest from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday. Weiss Ratings assumed coverage on Pinterest in a report on Saturday, November 1st. They set a “hold (c+)” rating for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $33.00 price target (down from $35.00) on shares of Pinterest in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $39.23.

Pinterest Stock Up 2.2%

NYSE PINS opened at $26.33 on Wednesday. The company has a market cap of $17.90 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96. Pinterest has a 52 week low of $23.68 and a 52 week high of $40.90. The firm’s 50-day simple moving average is $33.78 and its two-hundred day simple moving average is $33.77.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The firm had revenue of $665.93 million during the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. As a group, equities research analysts anticipate that Pinterest will post 0.6 EPS for the current year.

Insiders Place Their Bets

In related news, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total value of $3,558,613.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 640,236 shares of company stock worth $22,878,326 over the last three months. Company insiders own 7.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BTC Capital Management Inc. purchased a new stake in Pinterest during the third quarter valued at about $5,983,000. Illinois Municipal Retirement Fund increased its position in shares of Pinterest by 9.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 347,562 shares of the company’s stock valued at $11,181,000 after purchasing an additional 29,615 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of Pinterest during the 3rd quarter valued at about $238,000. Krilogy Financial LLC bought a new stake in Pinterest in the 3rd quarter worth approximately $678,000. Finally, MQS Management LLC purchased a new stake in Pinterest in the third quarter worth approximately $211,000. Institutional investors 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.