Pinterest (NYSE:PINS) Price Target Cut to $34.00 by Analysts at Raymond James

Pinterest (NYSE:PINS) had its price objective cut by Raymond James from $40.00 to $34.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on PINS. UBS Group lowered their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Wedbush increased their target price on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays reduced their price target on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Finally, Oppenheimer dropped their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Pinterest Trading Down 14.0 %

PINS stock opened at $29.18 on Friday. The firm has a market cap of $20.02 billion, a PE ratio of 97.27, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The stock has a 50-day moving average price of $31.82 and a 200-day moving average price of $36.36. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Large investors have recently modified their holdings of the stock. Brown Shipley& Co Ltd purchased a new position in Pinterest in the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest in the second quarter valued at $26,000. Hexagon Capital Partners LLC lifted its position in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in Pinterest in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.