Pinterest (NYSE:PINS) Given New $36.00 Price Target at Robert W. Baird

Pinterest (NYSE:PINS) had its price objective trimmed by Robert W. Baird from $41.00 to $36.00 in a report issued on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

PINS has been the subject of several other reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price target on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Wedbush decreased their price objective on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of Pinterest in a report on Thursday, September 12th. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Stock Up 4.1 %

Shares of NYSE:PINS opened at $30.38 on Friday. The company’s fifty day moving average is $31.82 and its two-hundred day moving average is $36.36. The company has a market cap of $20.85 billion, a P/E ratio of 101.27, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19.

Insider Activity

In related 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 transaction of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 directly owns 33,686 shares in the company, valued at approximately $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. 7.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. acquired a new position in shares of Pinterest during the 3rd quarter worth about $2,290,000. Bellwether Advisors LLC bought a new position in shares of Pinterest in the 3rd quarter valued at $604,000. Ontario Teachers Pension Plan Board grew its stake in shares of Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Pinterest by 3.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 421,325 shares of the company’s stock worth $13,638,000 after acquiring an additional 13,535 shares during the last quarter. Finally, Howe & Rusling Inc. raised its position in Pinterest by 3.3% during the 3rd quarter. Howe & Rusling Inc. now owns 133,012 shares of the company’s stock worth $4,306,000 after purchasing an additional 4,227 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

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.