Robert W. Baird Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price target cut by stock analysts at Robert W. Baird from $41.00 to $36.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 6.10% from the company’s previous close.

PINS has been the topic of several other research reports. Morgan Stanley upped their target price on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft began coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target on the stock. Wolfe Research began coverage on Pinterest in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Rosenblatt Securities reissued a “buy” rating and set a $48.00 price target on shares of Pinterest in a research report on Wednesday, July 31st. Finally, Roth Mkm lowered their price target on Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.22.

Pinterest Stock Performance

PINS opened at $33.93 on Friday. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The firm has a market capitalization of $23.28 billion, a PE ratio of 125.67, a PEG ratio of 2.49 and a beta of 1.02. The business’s 50-day simple moving average is $31.88 and its 200 day simple moving average is $36.36.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. 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 owned by corporate insiders.

Institutional Trading of Pinterest

A number of large investors have recently bought and sold shares of PINS. Allspring Global Investments Holdings LLC grew its holdings in Pinterest by 195.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock worth $75,000 after acquiring an additional 1,422 shares during the period. Norden Group LLC acquired a new stake in shares of Pinterest in the 1st quarter valued at about $214,000. Janney Montgomery Scott LLC grew its stake in shares of Pinterest by 7.6% in the 1st 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 period. Geneos Wealth Management Inc. grew its stake in shares of Pinterest by 26.1% in the 1st 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 period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Pinterest by 19.8% in the 1st 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 period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.