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

Pinterest (NYSE:PINS) had its price objective cut by Citigroup from $47.00 to $38.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Rosenblatt Securities lifted their target price on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Cantor Fitzgerald upped their target price on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 7th. KeyCorp lowered their target price on Pinterest from $41.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. The Goldman Sachs Group cut their target price on Pinterest from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Monday. Finally, Barclays upped their price target on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.81.

Pinterest Price Performance

Shares of NYSE:PINS opened at $25.84 on Monday. The firm has a market capitalization of $17.53 billion, a PE ratio of 9.61, 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. The business has a 50-day moving average of $33.27 and a two-hundred day moving average of $32.11.

Pinterest (NYSE:PINS) last announced its quarterly earnings data 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 return on equity of 8.10% and a net margin of 51.07%. As a group, research analysts anticipate that Pinterest will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds have recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Pinterest by 2.8% in the fourth 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 purchasing an additional 342 shares during the last quarter. Ethos Financial Group LLC lifted its position in shares of Pinterest by 3.1% during the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after buying an additional 350 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Pinterest by 0.9% during the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after purchasing an additional 372 shares during 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. boosted its stake in shares of Pinterest by 6.4% during the fourth quarter. Steph & Co. now owns 7,048 shares of the company’s stock valued at $204,000 after purchasing an additional 425 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.