Pinterest (NYSE:PINS) Price Target Lowered to $35.00 at JPMorgan Chase & Co.

Pinterest (NYSE:PINS) had its target price lowered by JPMorgan Chase & Co. from $38.00 to $35.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms have also recently commented on PINS. Rosenblatt Securities reiterated a “buy” rating and issued a $48.00 price target on shares of Pinterest in a research note on Wednesday, July 31st. UBS Group cut their price target on Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price for the company. Susquehanna reduced their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a report on Wednesday, July 31st. Finally, Wedbush lifted their target price on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $42.22.

Pinterest Price Performance

Shares of PINS stock traded down $4.75 during mid-day trading on Friday, hitting $29.18. 55,970,287 shares of the stock traded hands, compared to its average volume of 9,503,379. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The stock’s fifty day moving average is $31.82 and its two-hundred day moving average is $36.31. The stock has a market cap of $20.02 billion, a P/E ratio of 108.06, a P/E/G ratio of 2.60 and a beta of 1.02.

Insiders Place Their Bets

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

Institutional Trading of Pinterest

Several institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new position in shares of Pinterest during the 3rd quarter valued at $2,290,000. Bellwether Advisors LLC acquired a new position in Pinterest in the 3rd quarter worth about $604,000. Ontario Teachers Pension Plan Board lifted its holdings in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after buying an additional 2,996,750 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Pinterest by 3.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 421,325 shares of the company’s stock valued at $13,638,000 after buying an additional 13,535 shares in the last quarter. Finally, Howe & Rusling Inc. increased its holdings in Pinterest by 3.3% in the third quarter. Howe & Rusling Inc. now owns 133,012 shares of the company’s stock worth $4,306,000 after buying an additional 4,227 shares during the last quarter. 88.81% of the stock is currently 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.