Pinterest (NYSE:PINS) Price Target Lowered to $40.00 at Oppenheimer

Pinterest (NYSE:PINS) had its price objective trimmed by Oppenheimer from $45.00 to $40.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on PINS. Wedbush boosted their price objective on Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday. Barclays dropped their price target on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Susquehanna reduced their price objective on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird dropped their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Roth Mkm cut their price target on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Price Performance

Shares of PINS opened at $30.38 on Friday. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The stock’s fifty day moving average price is $31.82 and its two-hundred day moving average price is $36.36. The firm has a market cap of $20.85 billion, a PE ratio of 101.27, a PEG ratio of 2.25 and a beta of 1.02.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Gokul Rajaram sold 1,150 shares of the 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 completion of the sale, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $990,761.60. Following the completion of the transaction, 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 disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

A number of institutional investors have recently modified their holdings of PINS. Ontario Teachers Pension Plan Board lifted its holdings in Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the period. 1832 Asset Management L.P. purchased a new stake in Pinterest in the second quarter worth $98,655,000. Ninety One UK Ltd boosted its holdings in Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after acquiring an additional 1,679,348 shares in the last quarter. Acadian Asset Management LLC increased its position in Pinterest by 31.6% during the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after purchasing an additional 1,356,459 shares during the period. Finally, AMI Asset Management Corp bought a new position in Pinterest in the 2nd quarter worth $57,569,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.