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

Pinterest (NYSE:PINS) had its price target reduced by JPMorgan Chase & Co. from $38.00 to $35.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently commented on PINS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $48.00 target price on shares of Pinterest in a research report on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest in a research note on Monday, September 23rd. They set a “buy” rating and a $43.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research report on Thursday, September 12th. Finally, Robert W. Baird lowered their target price on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Pinterest Price Performance

PINS stock traded down $4.75 on Friday, reaching $29.18. 55,970,287 shares of the company were exchanged, compared to its average volume of 9,503,379. The firm has a market capitalization of $20.02 billion, a PE ratio of 108.06, a PEG ratio of 2.60 and a beta of 1.02. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The stock’s fifty day moving average price is $31.82 and its 200 day moving average price is $36.31.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s 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 transaction, the chief financial officer now owns 297,351 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’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 transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently made changes to their positions in PINS. Brown Shipley& Co Ltd bought a new stake in Pinterest in the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest in the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC increased its position in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC grew its stake in Pinterest by 113.4% in 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 period. Finally, Rothschild Investment LLC purchased a new stake in shares of Pinterest during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

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.