UBS Group Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price target cut by UBS Group from $52.00 to $46.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on Pinterest in a research note on Monday, September 23rd. They set a “buy” rating and a $43.00 target price for the company. Wedbush boosted their target price on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley increased their price target on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Rosenblatt Securities restated a “buy” rating and set a $48.00 price objective on shares of Pinterest in a report on Wednesday, July 31st. Finally, Oppenheimer reduced their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Pinterest Price Performance

NYSE PINS opened at $30.38 on Friday. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock’s 50-day moving average is $31.82 and its two-hundred day moving average is $36.36. The firm 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.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated 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 in the company, valued at $9,729,324.72. The trade was 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 related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated 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 directly owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Hedge funds have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board lifted its stake in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after acquiring an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Pinterest in the second quarter valued at approximately $98,655,000. Ninety One UK Ltd increased its holdings in shares of Pinterest by 44.6% during the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after acquiring an additional 1,679,348 shares during the last quarter. Acadian Asset Management LLC raised its stake in Pinterest by 31.6% in the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after acquiring an additional 1,356,459 shares during the period. Finally, AMI Asset Management Corp bought a new position in Pinterest during the second quarter worth $57,569,000. 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.