JPMorgan Chase & Co. Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS - Free Report) had its price objective trimmed by JPMorgan Chase & Co. from $38.00 to $35.00 in a report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Pinterest in a research report on Monday, September 23rd. They set a "buy" rating and a $43.00 price target on the stock. Roth Mkm decreased their target price on shares of Pinterest from $40.00 to $39.00 and set a "neutral" rating for the company in a research note on Wednesday, July 31st. Susquehanna dropped their price target 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. KeyCorp raised their target price on Pinterest from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus cut their price target on Pinterest from $46.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.22.

Pinterest Price Performance

PINS stock traded down $4.75 during midday trading on Friday, reaching $29.18. 55,937,006 shares of the company's stock traded hands, compared to its average volume of 9,503,379. The business has a 50-day moving average price of $31.82 and a two-hundred day moving average price of $36.31. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a market capitalization of $20.02 billion, a P/E ratio of 108.06, a PEG ratio of 2.60 and a beta of 1.02.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, October 16th. The stock was 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 in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company's 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 directly owns 297,351 shares of the company's stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently bought and sold shares of the business. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new stake in Pinterest in the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC grew its position in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock worth $33,000 after acquiring an additional 459 shares in the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Pinterest during the 2nd quarter valued at $35,000. 88.81% of the stock is owned by hedge funds and other 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.