Pinterest (NYSE:PINS) Price Target Cut to $36.00 by Analysts at Robert W. Baird

Pinterest (NYSE:PINS) had its target price lowered by Robert W. Baird from $41.00 to $36.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the company. Raymond James reduced their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus dropped their price objective on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on Pinterest in a research note on Monday, September 23rd. They issued a “buy” rating and a $43.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Finally, Citigroup dropped their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Pinterest Stock Performance

NYSE PINS traded down $4.75 during trading hours on Friday, hitting $29.18. 55,970,287 shares of the company traded hands, compared to its average volume of 9,503,379. The business’s 50-day moving average is $31.82 and its 200-day moving average is $36.31. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The stock has a market capitalization 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.

Insider Buying and Selling

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 shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction 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 owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the sale, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

Several hedge funds have recently modified their holdings of the stock. Leibman Financial Services Inc. increased its stake in shares of Pinterest by 0.9% in the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after acquiring an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Pinterest by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares in the last quarter. Raymond James Trust N.A. increased its stake in 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 purchasing an additional 319 shares in the last quarter. Toronto Dominion Bank increased its stake in Pinterest by 0.7% during the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after purchasing an additional 372 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its stake in Pinterest by 1.6% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock valued at $1,022,000 after purchasing an additional 373 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.