Pinterest (NYSE:PINS) Price Target Cut to $36.00 by Analysts at Robert W. Baird

Pinterest (NYSE:PINS) had its price objective decreased by Robert W. Baird from $41.00 to $36.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 23.37% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $48.00 price objective on shares of Pinterest in a research report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price target on shares of Pinterest in a report on Thursday, September 12th. Raymond James dropped their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Wolfe Research initiated coverage on shares of Pinterest in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.22.

Pinterest Price Performance

Shares of Pinterest stock opened at $29.18 on Friday. The company’s 50 day moving average price is $31.82 and its two-hundred day moving average price is $36.33. The firm has a market capitalization of $20.02 billion, a P/E ratio of 97.27, a P/E/G ratio of 2.60 and a beta of 1.02. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction, the director now owns 33,686 shares in the company, valued at approximately $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. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS raised its position in shares of Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after purchasing an additional 68,096 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in Pinterest by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after buying an additional 51,455 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Pinterest by 38.0% during the first quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock worth $21,358,000 after purchasing an additional 169,052 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Pinterest in the 2nd quarter worth $5,045,000. Finally, Quantbot Technologies LP increased its stake in Pinterest by 217.8% in the second quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock valued at $5,233,000 after acquiring an additional 81,380 shares during the last quarter. 88.81% of the stock is currently 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.