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

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

Other equities research analysts have also issued research reports about the stock. Oppenheimer began coverage on shares of Pinterest in a report on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 price target on the stock. Roth Mkm dropped their price target on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $41.00 price target (down previously from $45.00) on shares of Pinterest in a research note on Friday. Rosenblatt Securities reiterated a “buy” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Wednesday, July 31st. Finally, Wedbush lifted their price objective on Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Trading Up 4.1 %

Shares of NYSE:PINS opened at $30.38 on Friday. The firm has a market capitalization of $20.85 billion, a PE ratio of 101.27, a PEG ratio of 2.25 and a beta of 1.02. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19. The business’s 50 day moving average is $31.82 and its 200-day moving average is $36.36.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated 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 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 disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

Large investors have recently added to or reduced their stakes in the business. Brown Shipley& Co Ltd bought a new position in Pinterest during the second quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new stake in Pinterest during the second quarter worth about $26,000. Hexagon Capital Partners LLC raised its position in shares of Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Pinterest during the second quarter worth $35,000. 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.