Citigroup Lowers Pinterest (NYSE:PINS) Price Target to $38.00

Pinterest (NYSE:PINS) had its price objective lowered by equities research analysts at Citigroup from $47.00 to $38.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 47.06% from the company’s previous close.

Several other analysts have also weighed in on PINS. UBS Group decreased their price objective on Pinterest from $50.00 to $39.00 and set a “buy” rating on the stock in a report on Friday. Bank of America lowered their target price on Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. 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 research note on Friday, January 10th. Guggenheim reaffirmed a “buy” rating on shares of Pinterest in a report on Tuesday, April 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.81.

Pinterest Stock Down 2.0 %

Shares of Pinterest stock traded down $0.53 on Monday, hitting $25.84. 8,984,179 shares of the company’s stock traded hands, compared to its average volume of 10,433,478. The stock has a market cap of $17.53 billion, a P/E ratio of 9.61, a PEG ratio of 1.95 and a beta of 0.99. Pinterest has a 52-week low of $23.68 and a 52-week high of $45.19. The firm’s 50-day moving average is $33.42 and its 200 day moving average is $32.16.

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 net margin of 51.07% and a return on equity of 8.10%. Equities research analysts forecast that Pinterest will post 0.6 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares in the company, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 453,836 shares of company stock valued at $14,832,336. 7.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

Several large investors have recently made changes to their positions in the business. Whipplewood Advisors LLC purchased a new stake in shares of Pinterest during the 4th quarter valued at about $28,000. NBC Securities Inc. raised its stake in shares of Pinterest by 99,900.0% during the first quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock valued at $31,000 after purchasing an additional 999 shares during the period. American National Bank & Trust purchased a new position in shares of Pinterest in the first quarter valued at $32,000. GAMMA Investing LLC increased its stake in Pinterest by 63.5% during the 4th 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 period. Finally, Strategic Investment Solutions Inc. IL grew its stake in shares of Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after acquiring an additional 1,204 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.