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

Pinterest (NYSE:PINS) had its price objective reduced by investment analysts at Roth Mkm from $39.00 to $33.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Roth Mkm’s price objective suggests a potential upside of 13.09% from the company’s previous close.

Several other research analysts also recently commented on PINS. Raymond James dropped their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Oppenheimer cut their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday. UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday. Barclays dropped their price target on Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a research report on Monday, October 7th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $42.22.

Pinterest Stock Down 14.0 %

Shares of PINS stock opened at $29.18 on Friday. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market cap of $20.02 billion, a PE ratio of 97.27, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The business’s 50 day moving average is $31.82 and its two-hundred day moving average is $36.33.

Insider Transactions at Pinterest

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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Hedge funds have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board raised its holdings in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in Pinterest in the second quarter valued at approximately $98,655,000. Ninety One UK Ltd boosted its stake in Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after acquiring an additional 1,679,348 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Pinterest by 31.6% during the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after acquiring an additional 1,356,459 shares during the period. Finally, AMI Asset Management Corp bought a new stake in shares of Pinterest during the 2nd quarter valued at $57,569,000. Institutional investors own 88.81% of the company’s stock.

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.