Oppenheimer Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price lowered by research analysts at Oppenheimer from $45.00 to $40.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 38.46% from the company’s previous close.

PINS has been the subject of a number of other research reports. Evercore ISI cut their price objective on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and issued a $41.00 price objective (down previously from $45.00) on shares of Pinterest in a research note on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a research note on Monday, September 23rd. They issued a “buy” rating and a $43.00 price objective for the company. Roth Mkm decreased their price objective on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Robert W. Baird decreased their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $42.96.

Pinterest Price Performance

Shares of Pinterest stock traded down $5.04 during trading on Friday, reaching $28.89. 19,992,107 shares of the stock traded hands, compared to its average volume of 9,337,825. The company has a market capitalization of $19.82 billion, a price-to-earnings ratio of 107.00, a P/E/G ratio of 2.49 and a beta of 1.02. The business has a fifty day simple moving average of $31.88 and a two-hundred day simple moving average of $36.36. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s 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 transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 directly owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares in the company, 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

Several hedge funds and other institutional investors have recently made changes to their positions in PINS. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest in the second quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest during the second quarter worth about $26,000. Hexagon Capital Partners LLC boosted its holdings in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Pinterest during the second quarter worth about $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.