Pinterest (NYSE:PINS) Stock Rating Lowered by Wedbush

Pinterest (NYSE:PINS) was downgraded by equities researchers at Wedbush from an “outperform” rating to a “neutral” rating in a report issued on Monday, Marketbeat.com reports. They currently have a $30.00 price target on the stock, down from their prior price target of $34.00. Wedbush’s target price suggests a potential upside of 10.28% from the company’s previous close.

PINS has been the subject of several other research reports. Royal Bank Of Canada lowered their price objective on shares of Pinterest from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group decreased their target price on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. JPMorgan Chase & Co. lowered their price target on shares of Pinterest from $44.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinterest in a report on Monday, December 1st. Finally, Morgan Stanley decreased their price objective on shares of Pinterest from $41.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.97.

Pinterest Trading Up 0.2%

Shares of NYSE PINS opened at $27.20 on Monday. The stock has a fifty day moving average price of $29.50 and a 200 day moving average price of $33.45. Pinterest has a 12-month low of $23.68 and a 12-month high of $40.90. The company has a market cap of $18.38 billion, a P/E ratio of 9.45, a P/E/G ratio of 1.72 and a beta of 0.89.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The company had revenue of $665.93 million for the quarter. On average, sell-side analysts forecast that Pinterest will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of Pinterest stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 301,042 shares of company stock valued at $10,087,667 in the last ninety days. Corporate insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PINS. Norges Bank acquired a new stake in shares of Pinterest during the 2nd quarter valued at approximately $477,853,000. Amundi increased its stake in Pinterest by 618.9% during the first quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after purchasing an additional 12,271,958 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Pinterest by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after purchasing an additional 6,460,143 shares during the period. Swedbank AB raised its holdings in shares of Pinterest by 344.0% during the first quarter. Swedbank AB now owns 5,839,485 shares of the company’s stock worth $181,024,000 after purchasing an additional 4,524,433 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in shares of Pinterest by 1,138.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock worth $165,012,000 after buying an additional 4,230,125 shares during the last quarter. 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.