Pinterest (NYSE:PINS) Shares Down 2%

Pinterest, Inc. (NYSE:PINS)’s stock price fell 2% during trading on Friday . The stock traded as low as $28.72 and last traded at $28.72. 649,593 shares traded hands during trading, a decline of 93% from the average session volume of 9,639,788 shares. The stock had previously closed at $29.31.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PINS. Roth Mkm cut their price target on Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group raised their target price on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Wells Fargo & Company lowered their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Evercore ISI decreased their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Pinterest Trading Down 1.5 %

The stock has a fifty day moving average of $33.86 and a 200-day moving average of $36.96. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of 137.44, a PEG ratio of 3.26 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping 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 analysts’ expectations of $848.75 million. During the same quarter last year, the business posted ($0.04) EPS. Pinterest’s revenue was up 20.6% on a year-over-year basis. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at $8,410,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The disclosure for this sale can be found here. 7.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest during the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC grew its stake in shares of Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC increased its holdings in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in Pinterest during the second quarter valued at approximately $35,000. Hedge funds and other 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.