Pinterest (NYSE:PINS – Get Free Report) had its target price lowered by stock analysts at Raymond James from $40.00 to $34.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 16.52% from the company’s current price.
PINS has been the subject of several other research reports. Piper Sandler reissued an “overweight” rating and issued a $41.00 target price (down previously from $45.00) on shares of Pinterest in a research note on Friday. KeyCorp boosted their price objective on shares of Pinterest from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Friday. Susquehanna reduced their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research note on Wednesday, July 31st. Finally, Barclays decreased their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.22.
Get Our Latest Analysis on Pinterest
Pinterest Stock Performance
Insider Transactions at Pinterest
In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s 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 transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was 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 Investors Weigh In On Pinterest
A number of hedge funds have recently added to or reduced their stakes in PINS. Leibman Financial Services Inc. lifted its position in Pinterest by 0.9% in the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after purchasing an additional 266 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Pinterest by 5.2% during the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after buying an additional 313 shares during the period. Raymond James Trust N.A. boosted its position in shares of Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after buying an additional 319 shares during the period. Toronto Dominion Bank grew its holdings in Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after buying an additional 372 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its position in Pinterest by 1.6% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock valued at $1,022,000 after acquiring an additional 373 shares during the period. 88.81% of the stock is currently owned by institutional investors.
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.
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