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

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

Several other brokerages have also recently issued reports on PINS. Roth Mkm dropped their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. JPMorgan Chase & Co. reduced their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday. KeyCorp raised their price target on shares of Pinterest from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Friday. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average target price of $42.22.

Pinterest Stock Performance

PINS stock traded down $4.75 during mid-day trading on Friday, reaching $29.18. 55,970,287 shares of the stock traded hands, compared to its average volume of 9,503,379. Pinterest has a one year low of $27.00 and a one year high of $45.19. The stock has a market capitalization of $20.02 billion, a PE ratio of 108.06, a PEG ratio of 2.60 and a beta of 1.02. The business has a 50-day moving average price of $31.82 and a two-hundred day moving average price of $36.31.

Insider Buying and Selling at Pinterest

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

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brown Shipley& Co Ltd acquired a new stake in shares of Pinterest in the second quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new stake in Pinterest in the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Pinterest in the second quarter valued at approximately $35,000. Hedge funds and other 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.