Rosenblatt Securities Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective decreased by analysts at Rosenblatt Securities from $48.00 to $46.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 57.64% from the company’s current price.

PINS has been the topic of a number of other reports. UBS Group decreased their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday. Evercore ISI lowered their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. Roth Mkm dropped their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.22.

Pinterest Price Performance

Shares of PINS opened at $29.18 on Friday. The firm has a 50-day simple moving average of $31.82 and a two-hundred day simple moving average of $36.33. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19. The stock has a market cap of $20.02 billion, a PE ratio of 97.27, a P/E/G ratio of 2.60 and a beta of 1.02.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction that occurred 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 transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s 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 transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

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