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

Piper Sandler reaffirmed their overweight rating on shares of Pinterest (NYSE:PINS) in a research note issued to investors on Friday morning,Benzinga reports. Piper Sandler currently has a $41.00 target price on the stock, down from their prior target price of $45.00.

Other research analysts have also recently issued reports about the stock. Barclays decreased their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Wolfe Research assumed coverage on Pinterest in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Oppenheimer assumed coverage on Pinterest in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $45.00 price objective for the company. Roth Mkm dropped their price objective on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, KeyCorp increased their price target on Pinterest from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

Pinterest Trading Up 4.1 %

NYSE:PINS opened at $30.38 on Friday. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of 101.27, a P/E/G ratio of 2.25 and a beta of 1.02. The company has a 50-day moving average price of $31.82 and a 200-day moving average price of $36.36.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently modified their holdings of PINS. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new position in Pinterest in the second quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its holdings in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new position in Pinterest in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.