Pinterest’s (PINS) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Pinterest (NYSE:PINS) in a report released on Friday,Benzinga reports. The firm currently has a $41.00 price target on the stock, down from their previous price target of $45.00.

PINS has been the subject of a number of other research reports. KeyCorp raised their price objective 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. UBS Group decreased their price target on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Barclays reduced their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Citigroup cut their target price on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Wolfe Research assumed coverage on shares of Pinterest in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Stock Performance

Shares of PINS opened at $30.38 on Friday. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a market capitalization of $20.85 billion, a price-to-earnings ratio of 101.27, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The firm has a 50-day simple moving average of $31.82 and a 200-day simple moving average of $36.36.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’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 value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. 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, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. 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 insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Leibman Financial Services Inc. raised its holdings 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 valued at $1,383,000 after purchasing an additional 266 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after buying an additional 313 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after acquiring an additional 319 shares during the period. Toronto Dominion Bank lifted its position in Pinterest by 0.7% during the 2nd 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. Finally, Cornercap Investment Counsel Inc. boosted its holdings in Pinterest by 1.6% during the second quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock valued at $1,022,000 after acquiring an additional 373 shares during the period. Institutional investors own 88.81% of the company’s stock.

About Pinterest

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.