Pinterest (NYSE:PINS) Given New $39.00 Price Target at UBS Group

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

A number of other analysts have also issued reports on the stock. Guggenheim restated a "buy" rating on shares of Pinterest in a research note on Tuesday, April 1st. Sanford C. Bernstein upgraded Pinterest from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $34.00 to $47.00 in a research note on Friday, February 7th. Barclays upped their price objective on Pinterest from $36.00 to $42.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Stifel Nicolaus reiterated a "buy" rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Eight equities research 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, Pinterest currently has an average rating of "Moderate Buy" and a consensus price target of $41.81.

Pinterest Stock Performance

Shares of PINS traded up $0.14 during trading hours on Friday, hitting $25.99. The stock had a trading volume of 10,953,172 shares, compared to its average volume of 10,435,491. Pinterest has a 12-month low of $23.68 and a 12-month high of $45.19. The firm has a market cap of $17.63 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.95 and a beta of 0.99. The company's fifty day simple moving average is $33.27 and its 200 day simple moving average is $32.11.

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Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, sell-side analysts predict that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred 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 directly owns 29,086 shares in the company, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 453,836 shares of company stock worth $14,832,336. Insiders own 7.11% of the company's stock.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in Pinterest by 104.3% during the 4th 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 during the last quarter. Norges Bank bought a new stake in shares of Pinterest in the fourth quarter valued at about $358,205,000. Marshall Wace LLP grew 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 worth $310,352,000 after purchasing an additional 6,129,985 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after buying an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC acquired a new stake in shares of Pinterest during the 4th quarter worth $86,330,000. 88.81% of the stock is owned by 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.