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

by · The Markets Daily

Pinterest (NYSE:PINS – Get Free Report) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $38.00 to $35.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 21.15% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Evercore ISI dropped their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Citigroup dropped their price target on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Wolfe Research initiated coverage on Pinterest in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. KeyCorp upped their price objective on Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, UBS Group cut their price objective on Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.96.

Read Our Latest Stock Analysis on Pinterest

Pinterest Price Performance

NYSE PINS traded down $5.04 during trading hours on Friday, hitting $28.89. 19,992,107 shares of the company’s stock traded hands, compared to its average volume of 9,337,825. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The company has a market capitalization of $19.82 billion, a PE ratio of 107.00, a PEG ratio of 2.49 and a beta of 1.02. The firm’s 50-day moving average is $31.88 and its 200-day moving average is $36.36.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Gokul Rajaram sold 1,150 shares of the business’s 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 sale, the director now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The shares were 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 directly owns 297,351 shares of the company’s stock, valued at $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. 7.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in Pinterest by 195.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after purchasing an additional 1,422 shares during the period. Norden Group LLC acquired a new stake in shares of Pinterest during the first quarter valued at approximately $214,000. Janney Montgomery Scott LLC raised its holdings in shares of Pinterest by 7.6% during the first quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after acquiring an additional 4,237 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Pinterest by 26.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock valued at $124,000 after acquiring an additional 737 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Pinterest by 19.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 20,424 shares of the company’s stock valued at $708,000 after acquiring an additional 3,371 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Company Profile

(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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