Pinterest (NYSE:PINS) Price Target Lowered to $46.00 at UBS Group

Pinterest (NYSE:PINS) had its price target cut by UBS Group from $52.00 to $46.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Wolfe Research started coverage on shares of Pinterest in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. KeyCorp boosted their target price on Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Robert W. Baird lowered their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Wedbush boosted their target price on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Trading Up 4.1 %

Shares of PINS opened at $30.38 on Friday. The stock has a market capitalization of $20.85 billion, a PE ratio of 101.27, a P/E/G ratio of 2.25 and a beta of 1.02. The firm’s 50 day moving average is $31.82 and its 200-day moving average is $36.36. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19.

Insider Activity at Pinterest

In other 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 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The shares were 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 of the company’s stock, 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. 7.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

A number of hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its holdings in Pinterest by 195.1% during 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 during the last quarter. Norden Group LLC bought a new position in Pinterest in the 1st quarter worth approximately $214,000. Janney Montgomery Scott LLC grew its stake in Pinterest by 7.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after buying an additional 4,237 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Pinterest by 26.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock valued at $124,000 after acquiring an additional 737 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of 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 acquiring an additional 3,371 shares in the last quarter. 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.