Pinterest (NYSE:PINS) Coverage Initiated at TD Cowen

TD Cowen started coverage on shares of Pinterest (NYSE:PINS - Free Report) in a research note published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $38.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. Roth Mkm reduced their price target on Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. decreased their target price on shares of Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest in a research report on Monday, September 23rd. They issued a "buy" rating and a $43.00 price target on the stock. Wedbush upgraded shares of Pinterest from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Finally, KeyCorp dropped their target price on shares of Pinterest from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $41.86.

Pinterest Stock Up 1.7 %

Shares of NYSE PINS traded up $0.52 during midday trading on Tuesday, reaching $31.03. 5,139,052 shares of the company were exchanged, compared to its average volume of 9,639,741. The stock's 50-day moving average price is $31.77 and its 200-day moving average price is $35.67. The stock has a market cap of $20.97 billion, a P/E ratio of 103.60, a PEG ratio of 2.15 and a beta of 1.02. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Insiders Place Their Bets

In other Pinterest 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 value of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 3.30 % 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 90 days. 7.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently modified their holdings of PINS. State Street Corp increased its stake in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company's stock worth $413,483,000 after acquiring an additional 156,748 shares during the last quarter. Baillie Gifford & Co. boosted its position in Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock valued at $445,818,000 after buying an additional 880,398 shares during the period. Geode Capital Management LLC increased its holdings in shares of Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company's stock worth $305,710,000 after buying an additional 76,920 shares during the period. Ontario Teachers Pension Plan Board lifted its stake in shares of Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock valued at $285,248,000 after acquiring an additional 2,996,750 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Pinterest by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock valued at $262,695,000 after acquiring an additional 380,431 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.