JPMorgan Chase & Co. Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $42.00 to $30.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 16.62% from the company’s previous close.

Other analysts have also recently issued reports about the company. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Wedbush lifted their price objective on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Raymond James lowered shares of Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Cantor Fitzgerald increased their price target on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.07.

Pinterest Stock Up 1.3 %

Shares of NYSE:PINS traded up $0.32 during midday trading on Tuesday, hitting $25.72. The stock had a trading volume of 4,924,035 shares, compared to its average volume of 10,269,309. The company has a market cap of $17.45 billion, a P/E ratio of 9.55, a PEG ratio of 1.95 and a beta of 0.99. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19. The business’s 50-day simple moving average is $34.23 and its 200-day simple moving average is $32.38.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share 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%. As a group, equities analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now owns 6,274 shares in the company, valued at $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the 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 sale, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new stake in Pinterest during the 4th quarter worth approximately $28,000. GAMMA Investing LLC boosted its stake in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in shares of Pinterest by 401.3% in the fourth 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. V Square Quantitative Management LLC increased its holdings in shares of Pinterest by 51.5% in the 4th 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 during the last quarter. Finally, Huntington National Bank raised its position in Pinterest by 484.1% during the fourth quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after purchasing an additional 1,680 shares during the period. 88.81% of the stock is currently owned by 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.