Pinterest (NYSE:PINS) Price Target Cut to $42.00 by Analysts at Wells Fargo & Company

Pinterest (NYSE:PINS - Get Free Report) had its target price lowered by stock analysts at Wells Fargo & Company from $47.00 to $42.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 52.52% from the company's previous close.

A number of other equities analysts have also weighed in on the stock. Rosenblatt Securities upped their target price on shares of Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Raymond James increased their price objective on shares of Pinterest from $34.00 to $42.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Oppenheimer lifted their target price on Pinterest from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Benchmark raised Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research note on Friday, February 7th. Finally, Piper Sandler restated a "neutral" rating and set a $41.00 price target (up previously from $36.00) on shares of Pinterest in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and an average target price of $43.17.

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Pinterest Price Performance

Shares of PINS stock traded down $3.84 on Monday, hitting $27.54. 24,893,213 shares of the stock traded hands, compared to its average volume of 10,162,000. Pinterest has a 52 week low of $26.96 and a 52 week high of $45.19. The firm has a 50 day simple moving average of $34.64 and a two-hundred day simple moving average of $32.43. The firm has a market cap of $18.68 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last released 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%. Sell-side analysts forecast that Pinterest will post 0.6 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares of the company's stock, valued at $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,753 shares of company stock worth $11,640,201 in the last three months. Corporate insiders own 7.11% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Norges Bank purchased a new stake in Pinterest during the fourth quarter worth $358,205,000. Marshall Wace LLP boosted its position in 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 acquiring an additional 6,129,985 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Pinterest during the 3rd quarter valued at $153,829,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after acquiring an additional 4,527,902 shares during the period. Hedge funds and other 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.