Pinterest (NYSE:PINS) Given New $40.00 Price Target at Oppenheimer

Pinterest (NYSE:PINS) had its price objective reduced by Oppenheimer from $45.00 to $40.00 in a report released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently issued reports on PINS. Wolfe Research began coverage on shares of Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Evercore ISI lowered their price objective on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Thursday, September 12th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Friday. Finally, Wells Fargo & Company dropped their price objective on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Price Performance

Shares of NYSE:PINS opened at $30.38 on Friday. The company 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. The business has a fifty day moving average price of $31.82 and a 200-day moving average price of $36.36. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on 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 sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Gokul Rajaram sold 1,150 shares of the company’s 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 completion of the transaction, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents 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.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of PINS. Ontario Teachers Pension Plan Board increased its holdings in Pinterest by 51.5% in 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 acquiring an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Pinterest during the second quarter valued at about $98,655,000. Ninety One UK Ltd increased its holdings in shares of Pinterest by 44.6% in the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after purchasing an additional 1,679,348 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after buying an additional 1,356,459 shares in the last quarter. Finally, AMI Asset Management Corp bought a new position in Pinterest during the second quarter valued at approximately $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.