Pinterest (NYSE:PINS) Price Target Lowered to $34.00 at Raymond James

Pinterest (NYSE:PINS - Get Free Report) had its price objective decreased by investment analysts at Raymond James from $40.00 to $34.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Raymond James' price target would indicate a potential upside of 16.54% from the company's current price.

A number of other equities analysts also recently commented on PINS. Barclays decreased their price target on Pinterest from $38.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 31st. Susquehanna lowered their price target on Pinterest from $50.00 to $45.00 and set a "positive" rating for the company in a report on Wednesday, July 31st. Robert W. Baird reduced their price objective on Pinterest from $41.00 to $36.00 and set an "outperform" rating on the stock in a research note on Friday. Benchmark reaffirmed a "hold" rating on shares of Pinterest in a report on Friday. Finally, Wells Fargo & Company dropped their target price on shares of Pinterest from $49.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.22.

Pinterest Trading Down 14.0 %

PINS stock traded down $4.75 during mid-day trading on Friday, hitting $29.18. 55,937,006 shares of the company were exchanged, compared to its average volume of 9,503,379. The firm has a fifty day simple moving average of $31.82 and a 200 day simple moving average of $36.31. The company has a market capitalization 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. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19.

Insiders Place Their Bets

In other 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 transaction of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $1,129,154.72. The trade was 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. Also, 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 completion of the transaction, the chief financial officer now owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. The trade was 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 company insiders.

Institutional Trading of Pinterest

A number of hedge funds have recently modified their holdings of PINS. Leibman Financial Services Inc. lifted its position in shares of Pinterest by 0.9% in the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company's stock worth $1,383,000 after purchasing an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company's stock worth $205,000 after buying an additional 313 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Pinterest by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company's stock valued at $1,323,000 after buying an additional 319 shares during the period. Toronto Dominion Bank increased its stake in shares of Pinterest by 0.7% in the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company's stock worth $2,510,000 after acquiring an additional 372 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. increased its stake in shares of Pinterest by 1.6% in the second quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company's stock worth $1,022,000 after acquiring an additional 373 shares during the last quarter. Hedge funds and other institutional investors 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.