Pinterest (NYSE:PINS) Given "Hold" Rating at Benchmark

Pinterest (NYSE:PINS - Get Free Report)'s stock had its "hold" rating reaffirmed by Benchmark in a research note issued on Friday,Benzinga reports.

Several other equities analysts have also recently issued reports on PINS. Rosenblatt Securities restated a "buy" rating and set a $48.00 price objective on shares of Pinterest in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their price target on shares of Pinterest from $49.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a research report on Friday. KeyCorp raised their target price on shares of Pinterest from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Finally, Wolfe Research began coverage on Pinterest in a research note on Tuesday, July 16th. They issued a "peer perform" rating for the company. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.30.

Pinterest Stock Down 14.0 %

Shares of PINS traded down $4.75 during midday trading on Friday, hitting $29.18. The company had a trading volume of 55,683,910 shares, compared to its average volume of 9,502,304. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 106.56, a PEG ratio of 2.60 and a beta of 1.02. The company's 50 day moving average price is $31.88 and its 200 day moving average price is $36.36. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 $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 is available through this link. Also, 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.11% of the company's stock.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently bought and sold shares of the stock. Leibman Financial Services Inc. raised its holdings in shares of Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company's stock valued at $1,383,000 after acquiring an additional 266 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company's stock worth $205,000 after buying an additional 313 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company's stock valued at $1,323,000 after buying an additional 319 shares in the last quarter. Toronto Dominion Bank raised its position in Pinterest by 0.7% during the second quarter. Toronto Dominion Bank now owns 56,961 shares of the company's stock valued at $2,510,000 after buying an additional 372 shares during the period. Finally, Cornercap Investment Counsel Inc. lifted its stake in Pinterest by 1.6% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company's stock worth $1,022,000 after acquiring an additional 373 shares in the last quarter. 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.