Raymond James Lowers Pinterest (NYSE:PINS) Price Target to $34.00

by · The Markets Daily

Pinterest (NYSE:PINS – Get Free Report) had its target price lowered by equities researchers at Raymond James from $40.00 to $34.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target points to a potential upside of 20.01% from the stock’s current price.

PINS has been the subject of several other research reports. Evercore ISI decreased their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Robert W. Baird reduced their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday. Finally, Barclays cut their price objective on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.30.

Check Out Our Latest Report on Pinterest

Pinterest Stock Down 16.5 %

PINS traded down $5.60 during trading on Friday, reaching $28.33. 36,250,198 shares of the stock traded hands, compared to its average volume of 9,406,671. The stock’s 50-day moving average is $31.88 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. The stock has a market capitalization of $19.44 billion, a PE ratio of 103.67, a P/E/G ratio of 2.49 and a beta of 1.02.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, 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 value of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s 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 completion of the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest in the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest during the second quarter worth approximately $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Pinterest by 157.7% in 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 during the last quarter. GAMMA Investing LLC grew its holdings in shares of Pinterest by 113.4% during 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 during the last quarter. Finally, Rothschild Investment LLC bought a new stake in Pinterest in the second quarter worth $35,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

About Pinterest

(Get Free Report)

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.

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