UBS Group Cuts Pinterest (NYSE:PINS) Price Target to $39.00

Pinterest (NYSE:PINS) had its price objective lowered by UBS Group from $50.00 to $39.00 in a research report report published on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research analysts have also recently commented on PINS. Guggenheim reissued a “buy” rating on shares of Pinterest in a research report on Tuesday, April 1st. Rosenblatt Securities raised their target price on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James downgraded Pinterest from an “overweight” rating to a “market perform” rating in a report on Monday, April 7th. JPMorgan Chase & Co. dropped their price objective on Pinterest from $42.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald raised their price target on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.23.

Pinterest Price Performance

Shares of NYSE:PINS opened at $26.35 on Friday. The business has a 50-day moving average of $33.42 and a two-hundred day moving average of $32.16. The firm has a market capitalization of $17.87 billion, a PE ratio of 9.79, a P/E/G ratio of 1.95 and a beta of 0.99. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last posted 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%. As a group, research analysts anticipate that Pinterest will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total value of $3,192,135.41. Following the sale, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $196,187.98. This represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock valued at $14,832,336 over the last three months. Company insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several hedge funds have recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in shares of Pinterest in the 4th quarter valued at about $28,000. NBC Securities Inc. grew its stake in Pinterest by 99,900.0% in 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 in the last quarter. American National Bank & Trust acquired a new position in Pinterest in the 1st quarter worth about $32,000. GAMMA Investing LLC lifted its holdings in shares of Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL raised its position in 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. Hedge funds and other institutional investors 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.