Benchmark Reaffirms “Hold” Rating for Pinterest (NYSE:PINS)

Pinterest (NYSE:PINS)‘s stock had its “hold” rating reaffirmed by research analysts at Benchmark in a research note issued on Friday,Benzinga reports.

Other analysts have also recently issued reports about the company. Wells Fargo & Company dropped their price target on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. KeyCorp raised their target price on Pinterest from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Stifel Nicolaus lowered their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on shares of Pinterest in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, UBS Group reduced their target price on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.22.

Pinterest Stock Up 0.5 %

Shares of NYSE:PINS opened at $33.93 on Friday. The company has a market cap of $23.28 billion, a PE ratio of 125.67, a P/E/G ratio of 2.49 and a beta of 1.02. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a 50-day simple moving average of $31.88 and a 200 day simple moving average of $36.36.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Hedge funds have recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS increased its position in shares of Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after acquiring an additional 68,096 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after purchasing an additional 51,455 shares during the period. Russell Investments Group Ltd. raised its stake in Pinterest by 38.0% during the 1st quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock valued at $21,358,000 after purchasing an additional 169,052 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Pinterest in the second quarter valued at $5,045,000. Finally, Quantbot Technologies LP boosted its position in shares of Pinterest by 217.8% in the second quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock worth $5,233,000 after buying an additional 81,380 shares during the period. 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.