Pinterest (NYSE:PINS) Downgraded by Wedbush to “Neutral”

Pinterest (NYSE:PINS) was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report released on Monday. They currently have a $30.00 target price on the stock. Wedbush’s target price points to a potential upside of 12.11% from the company’s previous close.

Several other equities research analysts also recently commented on PINS. Wall Street Zen downgraded shares of Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Bank of America lowered their target price on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a report on Wednesday, November 5th. Evercore ISI lowered their price target on Pinterest from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Finally, Roth Capital decreased their price objective on shares of Pinterest from $39.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $38.97.

Pinterest Stock Down 1.7%

PINS stock opened at $26.76 on Monday. The firm has a market cap of $18.08 billion, a PE ratio of 9.29, a P/E/G ratio of 1.70 and a beta of 0.89. The business has a 50 day moving average of $29.73 and a 200-day moving average of $33.51. Pinterest has a 12-month low of $23.68 and a 12-month high of $40.90.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The business had revenue of $665.93 million for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. On average, research analysts expect that Pinterest will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the sale, the insider directly owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 403,125 shares of company stock worth $13,669,759. 7.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

Large investors have recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in Pinterest during the fourth quarter valued at approximately $252,000. PNC Financial Services Group Inc. lifted its stake in Pinterest by 16.9% in the first quarter. PNC Financial Services Group Inc. now owns 28,645 shares of the company’s stock worth $888,000 after purchasing an additional 4,137 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Pinterest by 3.6% during the first quarter. Blair William & Co. IL now owns 28,551 shares of the company’s stock valued at $885,000 after buying an additional 1,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Pinterest by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,499,865 shares of the company’s stock valued at $139,496,000 after buying an additional 192,457 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Pinterest by 37.2% in the first quarter. Deutsche Bank AG now owns 2,431,424 shares of the company’s stock worth $75,374,000 after buying an additional 659,401 shares during the period. 88.81% of the stock is owned by institutional investors.

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.