UBS Group Lowers Pinterest (NYSE:PINS) Price Target to $46.00

Pinterest (NYSE:PINS - Free Report) had its price objective cut by UBS Group from $52.00 to $46.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on PINS. Piper Sandler reaffirmed an "overweight" rating and set a $41.00 target price (down from $45.00) on shares of Pinterest in a research note on Friday. Oppenheimer cut their price objective on Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday. Evercore ISI decreased their price target on shares of Pinterest from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company dropped their target price on Pinterest from $49.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and a consensus price target of $42.22.

Pinterest Trading Down 14.0 %

PINS traded down $4.75 on Friday, hitting $29.18. 55,937,006 shares of the company's stock traded hands, compared to its average volume of 9,503,379. Pinterest has a one year low of $27.00 and a one year high of $45.19. The firm has a market cap of $20.02 billion, a price-to-earnings ratio of 108.06, a P/E/G 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.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction that occurred 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 directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly 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

A number of hedge funds and other institutional investors have recently modified their holdings of PINS. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the 2nd quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in Pinterest during the second quarter worth $26,000. Hexagon Capital Partners LLC raised its position in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company's stock valued at $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC lifted its stake in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company's stock valued at $34,000 after purchasing an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Pinterest during the 2nd quarter worth $35,000. 88.81% of the stock is 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.