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

Piper Sandler restated their neutral rating on shares of Pinterest (NYSE:PINS) in a research report sent to investors on Friday,Benzinga reports. They currently have a $41.00 price objective on the stock, up from their prior price objective of $36.00.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Tuesday, December 10th. TD Cowen started coverage on Pinterest in a research note on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. Roth Mkm lowered their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Oppenheimer cut their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, January 10th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

Pinterest Stock Performance

Pinterest stock opened at $40.02 on Friday. The stock’s 50 day moving average price is $31.23 and its two-hundred day moving average price is $31.57. The stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. On average, equities research analysts forecast that Pinterest will post 0.59 EPS for the current year.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now directly owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the transaction, the director now owns 32,536 shares of the company’s stock, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock valued at $589,131 over the last three months. Corporate insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Large investors have recently modified their holdings of the stock. Whipplewood Advisors LLC purchased a new position in Pinterest during the fourth quarter worth $28,000. GAMMA Investing LLC grew its holdings in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Pinterest in the 3rd quarter worth about $37,000. Crewe Advisors LLC boosted its position in shares of Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after buying an additional 550 shares during the period. Finally, True Wealth Design LLC boosted its position in shares of Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 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.