Pinterest (NYSE:PINS) Coverage Initiated at TD Cowen

Equities researchers at TD Cowen began coverage on shares of Pinterest (NYSE:PINS) in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $38.00 price target on the stock. TD Cowen’s target price points to a potential upside of 24.55% from the company’s current price.

A number of other research analysts have also recently weighed in on PINS. Evercore ISI cut their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $41.00 target price on shares of Pinterest in a research note on Monday, October 7th. UBS Group cut their target price on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Citigroup cut their target price 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. Finally, Oppenheimer cut their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.86.

Pinterest Stock Performance

PINS opened at $30.51 on Tuesday. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a fifty day moving average of $31.77 and a two-hundred day moving average of $35.67. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 101.70, a PEG ratio of 2.15 and a beta of 1.02.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,580 shares of company stock valued at $1,063,499 in the last ninety days. Company insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of large investors have recently modified their holdings of PINS. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest in the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest in the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC boosted its holdings in shares of Pinterest by 157.7% in the 2nd 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 boosted its stake in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC purchased a new position in Pinterest during the 2nd quarter worth $35,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.