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

Pinterest (NYSE:PINS)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a report issued on Friday,Benzinga reports. They presently have a $41.00 price objective on the stock, down from their previous price objective of $45.00. Piper Sandler’s price objective points to a potential upside of 20.84% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a research note on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Citigroup decreased their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Thursday, September 12th. Finally, Oppenheimer assumed coverage on shares of Pinterest in a research report on Tuesday, September 24th. They set an “outperform” rating and a $45.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average target price of $43.22.

Pinterest Stock Performance

Pinterest stock opened at $33.93 on Friday. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The firm has a 50 day moving average price of $31.88 and a 200 day moving average price of $36.36. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 125.67, a PEG ratio of 2.49 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 shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. 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 this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

Institutional Trading of Pinterest

Hedge funds have recently bought and sold shares of the company. Brown Shipley& Co Ltd purchased a new stake in Pinterest during the second quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest during the second quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its stake in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Pinterest during the second quarter valued at about $35,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.