Pinterest (NYSE:PINS) Price Target Cut to $36.00 by Analysts at Robert W. Baird

Pinterest (NYSE:PINS) had its price target reduced by Robert W. Baird from $41.00 to $36.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

PINS has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price target on the stock. Roth Mkm dropped their target price on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. Susquehanna lowered 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. Finally, Raymond James cut their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.00.

Pinterest Stock Performance

Shares of PINS stock opened at $30.38 on Friday. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The firm’s 50-day simple moving average is $31.82 and its two-hundred day simple moving average is $36.36. The firm has a market cap of $20.85 billion, a price-to-earnings ratio of 101.27, a P/E/G 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 firm’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 transaction of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred 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 in the company, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Brown Shipley& Co Ltd purchased a new position in Pinterest during the 2nd quarter valued at approximately $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest in the second quarter valued at $26,000. Hexagon Capital Partners LLC increased 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 purchasing an additional 459 shares during the last quarter. GAMMA Investing LLC raised its stake in 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 in the last quarter. Finally, Rothschild Investment LLC bought a new position in Pinterest during the second quarter valued at $35,000. Hedge funds and other institutional investors 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.