Pinterest (NYSE:PINS) Shares Down 2.5%

Shares of Pinterest, Inc. (NYSE:PINS) dropped 2.5% on Friday . The stock traded as low as $40.67 and last traded at $41.06. Approximately 427,922 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 9,183,282 shares. The stock had previously closed at $42.12.

Analysts Set New Price Targets

PINS has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. KeyCorp decreased their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Citigroup increased their price target on Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Rosenblatt Securities reissued a “buy” rating and issued a $48.00 price target (up previously from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. Finally, Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $42.04.

Pinterest Trading Down 1.7 %

The stock has a market capitalization of $28.28 billion, a PE ratio of 200.58, a price-to-earnings-growth ratio of 4.17 and a beta of 0.97. The firm has a 50 day moving average price of $42.72 and a 200 day moving average price of $38.27.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The firm had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. On average, equities research analysts expect that Pinterest, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares in the company, valued at approximately $8,317,733. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the completion of the transaction, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at approximately $8,317,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,184 shares of company stock worth $2,255,783. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Leibman Financial Services Inc. increased its position in shares of Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after acquiring an additional 266 shares during the period. Legacy Capital Group California Inc. raised its position in shares of Pinterest by 1.7% in the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after acquiring an additional 267 shares during the period. Venture Visionary Partners LLC raised its position in shares of Pinterest by 0.7% in the fourth quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after acquiring an additional 324 shares during the period. Washington Trust Advisors Inc. raised its position in shares of Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Pinterest by 0.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after purchasing an additional 348 shares during the last quarter. 88.81% of the stock is 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.