Pinterest (NYSE:PINS) PT Lowered to $52.00 at UBS Group

Pinterest (NYSE:PINS) had its target price lowered by UBS Group from $57.00 to $52.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on PINS. Citigroup dropped their price objective on shares of Pinterest from $51.00 to $44.00 and set a buy rating for the company in a research note on Wednesday. BMO Capital Markets increased their price target on Pinterest from $45.00 to $46.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Loop Capital lifted their price objective on Pinterest from $43.00 to $49.00 and gave the company a buy rating in a report on Monday, May 6th. KeyCorp decreased their price target on Pinterest from $45.00 to $43.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock an equal weight rating in a research report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $42.71.

Pinterest Trading Down 6.9 %

Pinterest stock opened at $29.10 on Wednesday. The company has a market capitalization of $19.88 billion, a price-to-earnings ratio of 138.58, a PEG ratio of 3.13 and a beta of 0.97. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19. The stock’s 50 day moving average is $41.47 and its 200-day moving average is $38.39.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same period in the prior year, the firm posted ($0.04) EPS. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, equities research analysts predict that Pinterest will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

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

Hedge Funds Weigh In On Pinterest

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in Pinterest during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. bought a new stake in shares of Pinterest during the fourth quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its position in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the period. Rothschild Investment LLC bought a new position in shares of Pinterest in the 2nd quarter worth $35,000. Finally, Quent Capital LLC grew its position in Pinterest by 71.2% in the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 460 shares during the period. 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.