Pinterest (NYSE:PINS) Price Target Cut to $45.00 by Analysts at Benchmark

Pinterest (NYSE:PINS - Free Report) had its price objective lowered by Benchmark from $55.00 to $45.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

PINS has been the subject of a number of other research reports. Raymond James downgraded shares of Pinterest from an "overweight" rating to a "market perform" rating in a research report on Monday, April 7th. Rosenblatt Securities boosted their target price on shares of Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Wedbush reissued an "outperform" rating on shares of Pinterest in a research report on Tuesday, April 15th. Bank of America lowered their price objective on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Barclays raised their target price on shares of Pinterest from $36.00 to $42.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.41.

Pinterest Trading Up 11.0 %

Shares of Pinterest stock traded up $3.07 during trading hours on Tuesday, reaching $30.93. 15,884,757 shares of the company's stock were exchanged, compared to its average volume of 10,466,966. The company has a fifty day moving average of $28.96 and a 200-day moving average of $31.23. Pinterest has a 52-week low of $23.68 and a 52-week high of $45.19. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the business posted $0.17 EPS. Pinterest's quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts anticipate that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the transaction, the director now owns 6,274 shares of the company's stock, valued at approximately $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction 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 completion of the transaction, the director now owns 29,086 shares of the company's stock, valued at $1,139,880.34. The trade was a 3.80 % 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 worth $14,828,392 over the last 90 days. Insiders own 7.06% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Pinterest by 2.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company's stock valued at $366,000 after buying an additional 342 shares in the last quarter. Ethos Financial Group LLC grew its holdings in shares of Pinterest by 3.1% in the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company's stock worth $342,000 after purchasing an additional 350 shares during the last quarter. Amalgamated Bank boosted its position in Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company's stock valued at $1,154,000 after buying an additional 372 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after buying an additional 415 shares in the last quarter. Finally, Steph & Co. grew its position in Pinterest by 6.4% during the 4th quarter. Steph & Co. now owns 7,048 shares of the company's stock worth $204,000 after acquiring an additional 425 shares during 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.