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

Pinterest (NYSE:PINS) had its target price lowered by Oppenheimer from $45.00 to $40.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on the company. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Friday. KeyCorp upped their price objective on shares of Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Piper Sandler reissued an “overweight” rating and issued a $41.00 target price (down from $45.00) on shares of Pinterest in a report on Friday. Roth Mkm cut their price target on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $48.00 price objective on shares of Pinterest in a research note 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.22.

Pinterest Trading Down 14.0 %

Shares of PINS stock opened at $29.18 on Friday. The stock has a market cap of $20.02 billion, a P/E ratio of 97.27, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The stock has a 50 day simple moving average of $31.82 and a 200 day simple moving average of $36.36.

Insider Activity

In related 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 sale, the director now 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’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 completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 $1,129,154.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently bought and sold shares of the company. Ontario Teachers Pension Plan Board grew 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 acquiring an additional 2,996,750 shares during the period. 1832 Asset Management L.P. acquired a new stake in Pinterest during the second quarter worth approximately $98,655,000. Ninety One UK Ltd grew its stake in Pinterest by 44.6% during 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 period. Acadian Asset Management LLC increased its holdings in 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 purchasing an additional 1,356,459 shares in the last quarter. Finally, AMI Asset Management Corp acquired a new position in Pinterest in 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.