Robert W. Baird Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price target lowered by equities research analysts at Robert W. Baird from $41.00 to $36.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 6.10% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Oppenheimer assumed coverage on shares of Pinterest in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 price target on the stock. KeyCorp raised their price target on shares of Pinterest from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Susquehanna dropped their price target on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating on the stock in a research report on Wednesday, July 31st. Roth Mkm dropped their price target on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Evercore ISI dropped their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.22.

Pinterest Price Performance

Shares of PINS opened at $33.93 on Friday. The stock has a 50-day moving average of $31.88 and a 200-day moving average of $36.36. The company has a market cap of $23.28 billion, a PE ratio of 125.67, a P/E/G ratio of 2.49 and a beta of 1.02. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’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 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 company insiders.

Institutional Trading of Pinterest

Several hedge funds have recently added to or reduced their stakes in PINS. Allspring Global Investments Holdings LLC lifted its stake in Pinterest by 195.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock worth $75,000 after purchasing an additional 1,422 shares during the last quarter. Norden Group LLC bought a new position in shares of Pinterest during the first quarter valued at about $214,000. Janney Montgomery Scott LLC raised its stake in shares of Pinterest by 7.6% during the first quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after acquiring an additional 4,237 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Pinterest by 26.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock valued at $124,000 after acquiring an additional 737 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Pinterest by 19.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 20,424 shares of the company’s stock valued at $708,000 after acquiring an additional 3,371 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

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.