Wells Fargo & Company Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective dropped by equities research analysts at Wells Fargo & Company from $47.00 to $42.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 36.35% from the stock’s previous close.

PINS has been the topic of several other research reports. Morgan Stanley raised their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Royal Bank of Canada boosted their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wedbush increased their price objective on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Rosenblatt Securities boosted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Pinterest Stock Down 2.1 %

PINS traded down $0.67 during trading hours on Monday, reaching $30.80. 3,286,057 shares of the company’s stock traded hands, compared to its average volume of 10,039,158. The firm has a 50-day moving average price of $34.66 and a 200 day moving average price of $32.41. The firm has a market capitalization of $20.89 billion, a PE ratio of 11.45, a PEG ratio of 1.95 and a beta of 1.02. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last issued 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 return on equity of 8.10% and a net margin of 51.07%. Equities analysts predict that Pinterest will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the sale, the director now owns 29,086 shares in the company, valued at $1,139,880.34. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,753 shares of company stock valued at $11,640,201 in the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new position in shares of Pinterest in the 4th quarter worth approximately $28,000. GAMMA Investing LLC increased its holdings in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. Strategic Investment Solutions Inc. IL raised its position in Pinterest by 401.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after purchasing an additional 1,204 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the period. Finally, V Square Quantitative Management LLC grew its position in shares of Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after buying an additional 590 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other 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.