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

Pinterest (NYSE:PINS - Free Report) had its price target reduced by Roth Mkm from $39.00 to $33.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently issued reports on the stock. Citigroup decreased their price objective on shares of Pinterest from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a report on Friday. Stifel Nicolaus cut their price objective on Pinterest from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Piper Sandler reiterated an "overweight" rating and set a $41.00 target price (down from $45.00) on shares of Pinterest in a research report on Friday. Finally, Wolfe Research began coverage on shares of Pinterest in a report on Tuesday, July 16th. They issued a "peer perform" rating on the stock. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $42.22.

Pinterest Price Performance

Shares of PINS traded down $4.75 during midday trading on Friday, hitting $29.18. The stock had a trading volume of 55,937,006 shares, compared to its average volume of 9,503,379. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The stock's 50 day moving average is $31.82 and its 200 day moving average is $36.31. The firm has a market cap of $20.02 billion, a PE ratio of 108.06, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business'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 transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Pinterest by 1.8% in the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company's stock worth $1,988,110,000 after purchasing an additional 994,848 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock valued at $445,818,000 after acquiring an additional 880,398 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in shares of Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock valued at $285,248,000 after acquiring an additional 2,996,750 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Pinterest by 2.2% in the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company's stock worth $283,592,000 after acquiring an additional 176,540 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Pinterest by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock worth $262,695,000 after purchasing an additional 380,431 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.