Pinterest (NYSE:PINS) Given “Overweight” Rating at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Pinterest (NYSE:PINS) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $41.00 price target on the stock, down from their prior price target of $45.00.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft began coverage on Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price target on the stock. Citigroup reduced their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Finally, Robert W. Baird dropped their price target on Pinterest from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.22.

Pinterest Stock Performance

Shares of Pinterest stock traded down $4.75 during trading hours on Friday, hitting $29.18. The company’s stock had a trading volume of 55,970,287 shares, compared to its average volume of 9,503,379. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The firm has a fifty day moving average of $31.82 and a 200-day moving average of $36.31. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 108.06, a P/E/G ratio of 2.60 and a beta of 1.02.

Insider Activity at Pinterest

In related news, 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 completion of the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, 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 SEC, which is accessible through this link. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now 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 filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, 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. 7.11% of the stock is currently owned by company insiders.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently made changes to their positions in PINS. Landscape Capital Management L.L.C. acquired a new stake in Pinterest in the 3rd quarter valued at approximately $2,290,000. Bellwether Advisors LLC acquired a new stake in Pinterest in the 3rd quarter valued at approximately $604,000. Ontario Teachers Pension Plan Board increased its position in shares of Pinterest by 51.5% during 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 purchasing an additional 2,996,750 shares during the period. Advisors Asset Management Inc. increased its position in shares of Pinterest by 3.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 421,325 shares of the company’s stock valued at $13,638,000 after purchasing an additional 13,535 shares during the period. Finally, Howe & Rusling Inc. increased its position in shares of Pinterest by 3.3% during the 3rd quarter. Howe & Rusling Inc. now owns 133,012 shares of the company’s stock valued at $4,306,000 after purchasing an additional 4,227 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.