Robert W. Baird Lowers Pinterest (NYSE:PINS) Price Target to $36.00

Pinterest (NYSE:PINS) had its price target dropped by Robert W. Baird from $41.00 to $36.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 23.37% from the stock’s current price.

PINS has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday, July 31st. Barclays decreased their target price on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company decreased their price objective on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Morgan Stanley boosted their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Pinterest Trading Down 14.0 %

NYSE:PINS opened at $29.18 on Friday. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 97.27, a PEG ratio of 2.60 and a beta of 1.02. The business’s 50-day moving average price is $31.82 and its two-hundred day moving average price is $36.33.

Insider Transactions at Pinterest

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 completion of the sale, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. In other news, 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade 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.

Hedge Funds Weigh In On Pinterest

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