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

Piper Sandler restated their overweight rating on shares of Pinterest (NYSE:PINS) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $52.00 price target on the stock, up from their previous price target of $50.00.

Several other analysts have also issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Pinterest from $47.00 to $48.00 and gave the company an overweight rating in a report on Wednesday, May 1st. Citigroup boosted their price objective on Pinterest from $48.00 to $51.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price target on Pinterest from $48.00 to $52.00 and gave the company an outperform rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Finally, Benchmark reaffirmed a hold rating on shares of Pinterest in a report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest currently has an average rating of Moderate Buy and a consensus price target of $41.34.

Pinterest Stock Up 0.3 %

Shares of PINS opened at $41.44 on Thursday. Pinterest has a 52-week low of $23.35 and a 52-week high of $43.12. The firm’s fifty day moving average is $36.78 and its two-hundred day moving average is $36.10. The stock has a market cap of $28.31 billion, a PE ratio of 197.34, a price-to-earnings-growth ratio of 4.13 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. The firm had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. As a group, research analysts anticipate that Pinterest will post 0.43 earnings per share for the current year.

Insider Transactions at Pinterest

In other news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.65, for a total transaction of $733,000.00. Following the transaction, the director now directly owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,405 shares of company stock worth $5,855,142. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently made changes to their positions in the business. Legacy Capital Group California Inc. increased its holdings in shares of Pinterest by 1.7% in the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock valued at $598,000 after acquiring an additional 267 shares during the last quarter. Venture Visionary Partners LLC increased its holdings in shares of Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after acquiring an additional 324 shares during the last quarter. Washington Trust Advisors Inc. increased its holdings in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Pinterest by 0.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock valued at $1,701,000 after acquiring an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Pinterest by 40.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after buying an additional 378 shares during the last quarter. 88.81% of the stock is 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.