Pinterest (NYSE:PINS) Price Target Lowered to $34.00 at Raymond James

Pinterest (NYSE:PINS) had its price objective decreased by Raymond James from $40.00 to $34.00 in a research report sent to investors on Friday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Wedbush raised their price target on Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday. Robert W. Baird lowered their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday. Susquehanna lowered their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a report on Wednesday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 price target (down previously from $45.00) on shares of Pinterest in a report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The business has a 50-day simple moving average of $31.82 and a two-hundred day simple moving average of $36.36. The company has a market cap of $20.85 billion, a P/E ratio of 102.14, a P/E/G ratio of 2.25 and a beta of 1.02.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred 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 sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several hedge funds have recently made changes to their positions in PINS. Allspring Global Investments Holdings LLC boosted its position in shares of Pinterest by 195.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after purchasing an additional 1,422 shares in the last quarter. Norden Group LLC purchased a new position in Pinterest during the first quarter valued at $214,000. Janney Montgomery Scott LLC raised its stake in Pinterest by 7.6% during the first quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after buying an additional 4,237 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Pinterest by 26.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock valued at $124,000 after buying an additional 737 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Pinterest by 19.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 20,424 shares of the company’s stock valued at $708,000 after buying an additional 3,371 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

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.