Wells Fargo & Company Cuts Pinterest (NYSE:PINS) Price Target to $42.00

Pinterest (NYSE:PINS) had its price target reduced by research analysts at Wells Fargo & Company from $47.00 to $42.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 49.20% from the stock’s previous close.

Several other analysts also recently weighed in on PINS. Raymond James boosted their price objective on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, January 10th. Roth Capital set a $32.00 target price on shares of Pinterest in a research note on Monday, February 3rd. Morgan Stanley lifted their target price on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $34.00 to $47.00 in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Pinterest Price Performance

Shares of PINS stock traded down $3.23 on Monday, reaching $28.15. 13,931,597 shares of the company were exchanged, compared to its average volume of 12,060,304. Pinterest has a one year low of $26.95 and a one year high of $45.19. The company has a 50-day moving average of $34.64 and a 200-day moving average of $32.43. The company has a market cap of $19.09 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 EPS 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 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 351,753 shares of company stock valued at $11,640,201. 7.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kera Capital Partners Inc. acquired a new stake in shares of Pinterest in the first quarter valued at about $229,000. 111 Capital acquired a new stake in shares of Pinterest during the 4th quarter valued at approximately $301,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Pinterest by 134.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 92,649 shares of the company’s stock worth $2,687,000 after acquiring an additional 53,081 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Pinterest in the 4th quarter worth approximately $5,608,000. Finally, Probity Advisors Inc. increased its stake in Pinterest by 86.1% in the 4th quarter. Probity Advisors Inc. now owns 12,138 shares of the company’s stock valued at $352,000 after purchasing an additional 5,614 shares in the last quarter. 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.