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

Pinterest (NYSE:PINS) had its target price reduced by research analysts at UBS Group from $52.00 to $46.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 57.64% from the company’s previous close.

Several other equities analysts have also weighed in on PINS. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research note on Friday. Wells Fargo & Company reduced their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and issued a $41.00 price objective (down previously from $45.00) on shares of Pinterest in a research report on Friday. Susquehanna reduced their target price on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a report on Wednesday, July 31st. Finally, Morgan Stanley increased their price target on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.22.

Pinterest Trading Down 14.0 %

Shares of PINS opened at $29.18 on Friday. The stock’s fifty day simple moving average is $31.82 and its 200 day simple moving average is $36.33. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The firm has a market capitalization of $20.02 billion, a P/E ratio of 97.27, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 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 insiders.

Hedge Funds Weigh In On Pinterest

Several hedge funds and other institutional investors have recently modified their holdings of PINS. Brown Shipley& Co Ltd acquired a new position 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 $26,000. Hexagon Capital Partners LLC grew its stake in shares of 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 purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Pinterest during the second quarter valued at about $35,000. 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.