JPMorgan Chase & Co. Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $38.00 to $35.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 19.95% from the company’s current price.

Several other research analysts also recently weighed in on PINS. Wells Fargo & Company reduced their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their target price on Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Evercore ISI lowered their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $41.00 price objective (down previously from $45.00) on shares of Pinterest in a report on Friday. 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. Based on data from MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $42.22.

Pinterest Stock Performance

Pinterest stock opened at $29.18 on Friday. The company’s fifty day moving average price is $31.82 and its 200 day moving average price is $36.33. The stock has a market capitalization of $20.02 billion, a P/E ratio of 97.27, a P/E/G ratio of 2.60 and a beta of 1.02. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $38,548.00. Following the sale, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. 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 hedge funds have recently bought and sold shares of the stock. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the second quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest during the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC grew its holdings in Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest in the 2nd quarter valued at $35,000. Institutional investors and hedge funds 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.