Pinterest (NYSE:PINS) Price Target Cut to $40.00 by Analysts at The Goldman Sachs Group

Pinterest (NYSE:PINS) had its price objective lowered by The Goldman Sachs Group from $47.00 to $40.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on PINS. Piper Sandler reduced their price target on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on Pinterest from $47.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. UBS Group reduced their price target on Pinterest from $50.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, February 7th. Finally, Cantor Fitzgerald lifted their price target on shares of Pinterest from $36.00 to $48.00 and gave the company 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.81.

Pinterest Price Performance

NYSE PINS opened at $25.84 on Monday. The business’s 50-day moving average is $33.27 and its 200 day moving average is $32.11. The stock has a market capitalization of $17.53 billion, a PE ratio of 9.61, a PEG ratio of 1.95 and a beta of 0.99. Pinterest has a 1 year low of $23.68 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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, equities 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 business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 6,274 shares in the company, valued at approximately $195,497.84. The trade was a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the 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 completion of the transaction, the director now owns 29,086 shares in the company, 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. Over the last 90 days, insiders sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is owned by insiders.

Institutional Trading of Pinterest

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Pinterest by 2.8% during 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 acquiring an additional 342 shares during the period. Ethos Financial Group LLC boosted its position in shares of Pinterest by 3.1% in the fourth 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 period. Amalgamated Bank increased its stake in shares of Pinterest by 0.9% in the fourth quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after purchasing an additional 372 shares in the last quarter. GAMMA Investing LLC raised its position 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 purchasing an additional 415 shares during the period. Finally, Steph & Co. lifted its stake in shares of Pinterest by 6.4% during the 4th quarter. Steph & Co. now owns 7,048 shares of the company’s stock valued at $204,000 after buying an additional 425 shares in the last quarter. 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.