Wells Fargo & Company Lowers Pinterest (NYSE:PINS) Price Target to $39.00

Pinterest (NYSE:PINS - Free Report) had its price target trimmed by Wells Fargo & Company from $40.00 to $39.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. Raymond James lowered their price target on shares of Pinterest from $40.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Jefferies Financial Group restated a "hold" rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research note on Monday. TD Cowen initiated coverage on Pinterest in a research report on Tuesday, November 26th. They set a "buy" rating and a $38.00 price objective for the company. Monness Crespi & Hardt upgraded Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Friday. Finally, Rosenblatt Securities reduced their price target on Pinterest from $48.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and an average price target of $40.86.

Pinterest Price Performance

NYSE:PINS traded down $0.24 during midday trading on Monday, reaching $30.42. 11,012,268 shares of the company traded hands, compared to its average volume of 10,075,351. The firm has a market capitalization of $20.56 billion, a price-to-earnings ratio of 101.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.04. The company has a fifty day moving average price of $30.58 and a 200 day moving average price of $32.70. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company's stock, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $592,685 in the last three months. 7.11% of the stock is currently owned by company insiders.

Institutional Trading of Pinterest

Several hedge funds and other institutional investors have recently modified their holdings of PINS. Brown Shipley& Co Ltd acquired a new position in Pinterest in the 2nd quarter worth about $25,000. GAMMA Investing LLC increased its holdings in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after buying an additional 415 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Pinterest during the third quarter valued at approximately $37,000. Crewe Advisors LLC lifted its stake in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company's stock valued at $37,000 after acquiring an additional 550 shares during the last quarter. Finally, True Wealth Design LLC grew its position in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock worth $49,000 after acquiring an additional 1,487 shares in the last quarter. 88.81% of the stock is currently 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.