Roth Mkm Cuts Pinterest (NYSE:PINS) Price Target to $33.00

Pinterest (NYSE:PINS) had its price objective trimmed by Roth Mkm from $39.00 to $33.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also commented on PINS. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Raymond James dropped their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley increased their price objective on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Wedbush boosted their target price on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $42.22.

Pinterest Price Performance

Shares of PINS opened at $29.18 on Friday. The company has a market capitalization of $20.02 billion, a PE ratio of 97.27, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. Pinterest has a one year low of $27.00 and a one year high of $45.19. The company’s fifty day moving average price is $31.82 and its 200 day moving average price is $36.36.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was 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 directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now 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 sale was disclosed in a document filed 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 value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, 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.

Hedge Funds Weigh In On Pinterest

Hedge funds have recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS raised its stake in shares of Pinterest by 20.3% during the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after buying an additional 68,096 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after acquiring an additional 51,455 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Pinterest by 38.0% in the 1st quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock valued at $21,358,000 after purchasing an additional 169,052 shares during the period. Artemis Investment Management LLP bought a new position in shares of Pinterest in the 2nd quarter worth $5,045,000. Finally, Quantbot Technologies LP grew its stake in shares of Pinterest by 217.8% during the second quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock worth $5,233,000 after purchasing an additional 81,380 shares during the period. 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.