Oppenheimer Lowers Pinterest (NYSE:PINS) Price Target to $40.00

Pinterest (NYSE:PINS - Get Free Report) had its price target cut by analysts at Oppenheimer from $45.00 to $40.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective would suggest a potential upside of 37.10% from the company's current price.

Other equities analysts have also issued research reports about the stock. Rosenblatt Securities reiterated a "buy" rating and set a $48.00 price objective on shares of Pinterest in a report on Wednesday, July 31st. Wolfe Research assumed coverage on shares of Pinterest in a research report on Tuesday, July 16th. They issued a "peer perform" rating for the company. KeyCorp increased their target price 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. Cantor Fitzgerald restated an "overweight" rating and set a $41.00 price target on shares of Pinterest in a research note on Monday, October 7th. Finally, Roth Mkm lowered their target price on shares of Pinterest from $40.00 to $39.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and a consensus price target of $42.22.

Pinterest Price Performance

Shares of PINS stock traded down $4.75 on Friday, hitting $29.18. 55,937,006 shares of the company's stock were exchanged, compared to its average volume of 9,503,379. The stock has a market cap of $20.02 billion, a P/E ratio of 108.06, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a 50 day moving average of $31.82 and a 200 day moving average of $36.31.

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 transaction of $38,548.00. Following the sale, the director now owns 33,686 shares of the company's stock, valued at approximately $1,129,154.72. 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 can be accessed through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm'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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, October 16th. The stock was 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 in the company, valued at approximately $1,129,154.72. The trade was 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 corporate insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds have recently made changes to their positions in PINS. Brown Shipley& Co Ltd acquired a new stake in Pinterest in the second quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest during the 2nd quarter valued at approximately $26,000. Hexagon Capital Partners LLC increased its stake in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock worth $33,000 after purchasing 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 in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Pinterest in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 88.81% of the company's stock.

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.