Pinterest (NYSE:PINS) Price Target Lowered to $39.00 at Wells Fargo & Company

Pinterest (NYSE:PINS) had its price objective lowered by Wells Fargo & Company from $40.00 to $39.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on PINS. Oppenheimer decreased their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Raymond James decreased their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. KeyCorp reduced their target price on shares of Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday. Roth Mkm lowered their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price target for the company. Nine analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.86.

Pinterest Trading Down 0.8 %

NYSE:PINS opened at $30.42 on Monday. The business’s 50-day moving average is $30.58 and its 200 day moving average is $32.70. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market capitalization of $20.56 billion, a P/E ratio of 101.40, a P/E/G ratio of 2.17 and a beta of 1.04.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $592,685 in the last ninety days. 7.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the second quarter valued at about $25,000. GAMMA Investing LLC raised its stake in shares of Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Pinterest during the third quarter valued at approximately $37,000. Crewe Advisors LLC grew its holdings in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares during the last quarter. Finally, True Wealth Design LLC increased its position in shares of Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares in the last quarter. Hedge funds and other 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.