Pinterest (NYSE:PINS) Research Coverage Started at TD Cowen

TD Cowen initiated coverage on shares of Pinterest (NYSE:PINS) in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $38.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. Rosenblatt Securities decreased their target price on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft started coverage on Pinterest in a research report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price objective for the company. Citigroup dropped their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Raymond James decreased their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $41.63.

Pinterest Price Performance

PINS opened at $30.32 on Tuesday. The firm has a market capitalization of $20.49 billion, a PE ratio of 101.07, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The business’s 50-day moving average is $31.80 and its two-hundred day moving average is $35.52. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 in the company, valued at $9,729,324.72. The trade was a 9.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,580 shares of company stock worth $1,063,499. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Leibman Financial Services Inc. raised its position in shares of Pinterest by 0.9% during the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after purchasing an additional 266 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Pinterest by 5.2% during the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after buying an additional 313 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Pinterest by 1.1% in the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after buying an additional 319 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after buying an additional 339 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in Pinterest by 0.7% during the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after acquiring an additional 372 shares during 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.