TD Cowen Begins Coverage on Pinterest (NYSE:PINS)

Equities researchers at TD Cowen began coverage on shares of Pinterest (NYSE:PINS) in a report released on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $38.00 price target on the stock. TD Cowen’s price target would suggest a potential upside of 25.29% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Evercore ISI reduced their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Barclays reduced their price objective on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price on the stock. Roth Mkm reduced their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Finally, Wedbush upgraded Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $41.63.

Pinterest Trading Down 2.2 %

Shares of PINS stock opened at $30.33 on Tuesday. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 101.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The stock has a 50 day simple moving average of $31.81 and a 200-day simple moving average of $35.56.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 9.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now directly owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,580 shares of company stock worth $1,063,499 over the last quarter. 7.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Pinterest during the third quarter valued at about $87,000. Sanctuary Advisors LLC raised its holdings in shares of Pinterest by 42.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 124,353 shares of the company’s stock worth $3,733,000 after purchasing an additional 36,925 shares during the period. TCW Group Inc. lifted its stake in shares of Pinterest by 14.6% in the 3rd quarter. TCW Group Inc. now owns 690,082 shares of the company’s stock valued at $22,338,000 after purchasing an additional 88,086 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Pinterest by 36.7% during the 3rd quarter. Toronto Dominion Bank now owns 77,842 shares of the company’s stock worth $2,520,000 after purchasing an additional 20,881 shares during the period. Finally, Geode Capital Management LLC increased its position in Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after purchasing an additional 76,920 shares in the last quarter. 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.