Oppenheimer Lowers Pinterest (NYSE:PINS) Price Target to $40.00

Pinterest (NYSE:PINS) had its price target lowered by Oppenheimer from $45.00 to $40.00 in a report released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

PINS has been the subject of several other research reports. Evercore ISI reduced their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Rosenblatt Securities restated a “buy” rating and issued a $48.00 price target on shares of Pinterest in a research note on Wednesday, July 31st. Citigroup dropped 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. Finally, Roth Mkm decreased their target price on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research 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. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average price target of $42.22.

Pinterest Price Performance

PINS stock traded down $4.75 during trading hours on Friday, reaching $29.18. The stock had a trading volume of 55,970,287 shares, compared to its average volume of 9,503,379. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock 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. The stock has a 50-day simple moving average of $31.82 and a 200 day simple moving average of $36.31.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Gokul Rajaram sold 1,150 shares of the company’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 of the company’s stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s 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 transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently made changes to their positions in PINS. Allspring Global Investments Holdings LLC lifted its holdings in shares of Pinterest by 195.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after purchasing an additional 1,422 shares in the last quarter. Norden Group LLC bought a new stake in shares of Pinterest in the 1st quarter worth $214,000. Janney Montgomery Scott LLC raised its holdings in shares of Pinterest by 7.6% in the first quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after purchasing an additional 4,237 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Pinterest by 26.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock valued at $124,000 after purchasing an additional 737 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Pinterest by 19.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 20,424 shares of the company’s stock worth $708,000 after purchasing an additional 3,371 shares during the last quarter. Institutional investors and hedge funds 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.