Pinterest (NYSE:PINS) Price Target Cut to $46.00 by Analysts at Rosenblatt Securities

Pinterest (NYSE:PINS) had its price objective reduced by stock analysts at Rosenblatt Securities from $48.00 to $46.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ target price indicates a potential upside of 57.67% from the stock’s current price.

Several other research firms have also issued reports on PINS. Citigroup lowered their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Roth Mkm decreased their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday. Stifel Nicolaus cut their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. KeyCorp boosted their price objective on shares of Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $41.00 target price 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $42.22.

Pinterest Price Performance

NYSE PINS traded down $4.75 during trading hours on Friday, reaching $29.18. 55,937,006 shares of the company’s stock traded hands, compared to its average volume of 9,503,379. The firm has a market cap of $20.02 billion, a PE ratio of 108.06, a PEG ratio of 2.60 and a beta of 1.02. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The firm has a 50-day simple moving average of $31.88 and a 200 day simple moving average of $36.36.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’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 sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 sale, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was 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 directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest in the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest in the second quarter worth about $26,000. Hexagon Capital Partners LLC grew its position in Pinterest by 157.7% in the second 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 increased its stake in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after acquiring an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Pinterest during the second quarter valued at approximately $35,000. 88.81% of the stock is owned by institutional investors.

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.