Robert W. Baird Lowers Pinterest (NYSE:PINS) Price Target to $36.00

Pinterest (NYSE:PINS - Free Report) had its price objective trimmed by Robert W. Baird from $41.00 to $36.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also commented on PINS. Royal Bank of Canada restated an "outperform" rating and set a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. 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. Susquehanna dropped their price objective on Pinterest from $50.00 to $45.00 and set a "positive" rating for the company in a report on Wednesday, July 31st. Barclays reduced their price objective on shares of Pinterest from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.30.

Pinterest Trading Down 14.1 %

NYSE PINS traded down $4.77 on Friday, reaching $29.16. The stock had a trading volume of 51,716,633 shares, compared to its average volume of 9,484,021. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The business has a 50 day moving average price of $31.88 and a 200 day moving average price of $36.36. The company has a market capitalization of $20.01 billion, a price-to-earnings ratio of 106.56, a P/E/G ratio of 2.60 and a beta of 1.02.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company's stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business's 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 completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 transaction, the chief financial officer now owns 297,351 shares of the company's stock, valued at $9,729,324.72. This trade 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 company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. 1832 Asset Management L.P. purchased a new position in Pinterest in the second quarter worth $98,655,000. Ninety One UK Ltd lifted its stake in Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company's stock worth $239,991,000 after acquiring an additional 1,679,348 shares during the period. Acadian Asset Management LLC increased its position in Pinterest by 31.6% during the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company's stock valued at $248,793,000 after purchasing an additional 1,356,459 shares during the period. AMI Asset Management Corp bought a new position in Pinterest in the 2nd quarter worth $57,569,000. Finally, American Century Companies Inc. boosted its stake in shares of Pinterest by 57.6% during the 2nd quarter. American Century Companies Inc. now owns 3,042,065 shares of the company's stock valued at $134,064,000 after purchasing an additional 1,112,163 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

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.