Robert W. Baird Lowers Pinterest (NYSE:PINS) Price Target to $41.00

Pinterest (NYSE:PINS) had its price objective cut by research analysts at Robert W. Baird from $44.00 to $41.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 24.81% from the stock’s current price.

PINS has been the topic of several other research reports. Wedbush lowered their price objective on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday. Piper Sandler lowered their price target on shares of Pinterest from $52.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday. Stifel Nicolaus increased their price target on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group increased their target price on shares of Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.22.

Pinterest Trading Down 12.0 %

Shares of PINS traded down $4.50 during trading hours on Wednesday, reaching $32.85. The stock had a trading volume of 20,904,445 shares, compared to its average volume of 9,373,995. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19. The firm has a 50-day simple moving average of $42.11 and a 200 day simple moving average of $38.53. The company has a market capitalization of $22.44 billion, a price-to-earnings ratio of 154.29, a P/E/G ratio of 3.65 and a beta of 0.97.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the previous year, the business posted ($0.04) EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities analysts forecast that Pinterest will post 0.44 EPS for the current year.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the completion of the sale, the insider now owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the transaction, the insider now owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock worth $2,191,304 in the last three months. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new position in shares of Pinterest during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new stake in Pinterest in the 4th quarter valued at $30,000. Hexagon Capital Partners LLC raised its holdings in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares during the period. Rothschild Investment LLC purchased a new position in Pinterest during the second quarter worth about $35,000. Finally, Quent Capital LLC lifted its holdings in Pinterest by 71.2% in the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after acquiring an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.