Pinterest (NYSE:PINS – Free Report) 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.
View Our Latest Stock Report on PINS
Pinterest Price Performance
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.
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