Pinterest (NYSE:PINS) Price Target Lowered to $33.00 at Roth Mkm

Pinterest (NYSE:PINS) had its price target trimmed by Roth Mkm from $39.00 to $33.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently commented on PINS. Raymond James cut their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Robert W. Baird reduced their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company decreased their target price on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price on the stock. Finally, Wedbush upped their price target on Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Price Performance

NYSE PINS opened at $30.38 on Friday. The business’s 50-day simple moving average is $31.82 and its 200-day simple moving average is $36.36. The firm has a market capitalization of $20.85 billion, a P/E ratio of 101.27, a P/E/G ratio of 2.25 and a beta of 1.02. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Several hedge funds and other institutional investors have recently made changes to their positions in PINS. Leibman Financial Services Inc. grew 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 buying an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after acquiring an additional 313 shares in the last quarter. Raymond James Trust N.A. increased its stake 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 valued at $1,323,000 after acquiring an additional 319 shares during the period. Toronto Dominion Bank lifted its position in Pinterest by 0.7% in the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after purchasing an additional 372 shares during the period. Finally, Cornercap Investment Counsel Inc. boosted its stake in Pinterest by 1.6% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock valued at $1,022,000 after purchasing an additional 373 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.