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

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

Several other brokerages also recently issued reports on PINS. KeyCorp lowered their price objective on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $34.00 to $47.00 in a research note on Friday, February 7th. The Goldman Sachs Group boosted their target price on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 7th. Oppenheimer increased their price target on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.17.

Pinterest Price Performance

Shares of PINS traded down $0.67 during mid-day trading on Monday, reaching $30.80. The company’s stock had a trading volume of 3,286,057 shares, compared to its average volume of 10,039,158. The company’s 50 day moving average is $34.66 and its 200 day moving average is $32.41. The stock has a market cap of $20.89 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last issued 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 net margin of 51.07% and a return on equity of 8.10%. As a group, sell-side analysts anticipate that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 completion of the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 351,753 shares of company stock valued at $11,640,201. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings 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 buying an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the period. State Street Corp increased its holdings in shares of Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after purchasing an additional 156,748 shares during the period. FMR LLC raised its stake in shares of Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock valued at $365,381,000 after purchasing an additional 316,633 shares in the last quarter. Finally, Norges Bank acquired a new stake in Pinterest in the fourth quarter worth about $358,205,000. 88.81% of the stock is owned by institutional investors and hedge funds.

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.