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

Pinterest (NYSE:PINS) had its price target cut by investment analysts at Roth Mkm from $39.00 to $33.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Roth Mkm’s price target points to a potential upside of 16.48% from the stock’s previous close.

Several other brokerages have also recently weighed in on PINS. Rosenblatt Securities restated a “buy” rating and issued a $48.00 price objective on shares of Pinterest in a report on Wednesday, July 31st. Benchmark restated a “hold” rating on shares of Pinterest in a research note on Friday. UBS Group dropped their price objective on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday. KeyCorp raised their target price on shares of Pinterest from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI dropped their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Eight 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, the company has a consensus rating of “Moderate Buy” and an average target price of $42.52.

Pinterest Stock Down 16.5 %

PINS traded down $5.60 during trading hours on Friday, hitting $28.33. 29,113,007 shares of the company’s stock were exchanged, compared to its average volume of 9,370,705. The stock has a market cap of $19.44 billion, a price-to-earnings ratio of 104.52, a PEG ratio of 2.49 and a beta of 1.02. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19. The stock’s 50-day moving average is $31.88 and its two-hundred day moving average is $36.36.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the 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 sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was 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.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently added to or reduced their stakes in PINS. Leibman Financial Services Inc. boosted its position in shares of Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after buying an additional 266 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after purchasing an additional 319 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Pinterest by 0.7% during the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after purchasing an additional 372 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in Pinterest by 1.6% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock worth $1,022,000 after purchasing an additional 373 shares in the last quarter. Institutional investors and hedge funds 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.