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

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

A number of other analysts have also weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Royal Bank of Canada upped their price objective on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Bank of America cut their target price on Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday. Cantor Fitzgerald increased 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. Finally, Barclays lifted their price objective on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $42.23.

Pinterest Trading Up 0.4 %

PINS opened at $26.35 on Friday. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 9.79, a PEG 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’s fifty day simple moving average is $33.42 and its 200-day simple moving average is $32.16.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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%. On average, equities research analysts predict that Pinterest will post 0.6 EPS for the current year.

Insider Transactions 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 stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the sale, the director now owns 6,274 shares in the company, valued at $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 available through the SEC website. Also, Director Jeremy S. Levine sold 50,535 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.98, for a total value of $1,717,179.30. Following the sale, the director now directly owns 1,156,693 shares in the company, valued at approximately $39,304,428.14. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock worth $14,832,336 over the last 90 days. 7.11% of the stock is currently owned by company insiders.

Institutional Trading of Pinterest

A number of hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Norges Bank purchased a new position in shares of Pinterest during the 4th quarter valued at approximately $358,205,000. Marshall Wace LLP lifted its position in shares of Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after buying an additional 6,129,985 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after acquiring an additional 4,527,902 shares in the last quarter. Finally, Contour Asset Management LLC purchased a new stake in Pinterest in the 4th quarter worth $86,330,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.