Rosenblatt Securities Lowers Pinterest (NYSE:PINS) Price Target to $46.00

Pinterest (NYSE:PINS) had its target price decreased by Rosenblatt Securities from $48.00 to $46.00 in a research report sent to investors on Friday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a research note on Monday, October 7th. Susquehanna lowered their target price on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research note on Wednesday, July 31st. Robert W. Baird cut their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday. Evercore ISI lowered their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.22.

Pinterest Trading Down 14.0 %

PINS traded down $4.75 during midday trading on Friday, hitting $29.18. 55,970,287 shares of the company were exchanged, compared to its average volume of 9,503,379. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 108.06, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The company’s 50 day simple moving average is $31.82 and its 200 day simple moving average is $36.31. 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 company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction 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 transaction, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the 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 owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

Institutional Trading of Pinterest

Hedge funds have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. acquired a new stake in shares of Pinterest during the third quarter worth $2,290,000. Bellwether Advisors LLC acquired a new position in shares of Pinterest during the third quarter worth about $604,000. Ontario Teachers Pension Plan Board lifted its position in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the period. Advisors Asset Management Inc. boosted its holdings in Pinterest by 3.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 421,325 shares of the company’s stock valued at $13,638,000 after purchasing an additional 13,535 shares in the last quarter. Finally, Howe & Rusling Inc. increased its position in Pinterest by 3.3% during the 3rd quarter. Howe & Rusling Inc. now owns 133,012 shares of the company’s stock worth $4,306,000 after purchasing an additional 4,227 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

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.