Pinterest's (PINS) "Overweight" Rating Reiterated at Piper Sandler

Pinterest (NYSE:PINS - Get Free Report)'s stock had its "overweight" rating reaffirmed by research analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They currently have a $41.00 price objective on the stock, down from their prior price objective of $45.00. Piper Sandler's price target would suggest a potential upside of 40.60% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus lowered their price target on Pinterest from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Citigroup reduced their price objective on shares of Pinterest from $51.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Benchmark reissued a "hold" rating on shares of Pinterest in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a report on Monday, September 23rd. They issued a "buy" rating and a $43.00 target price for the company. Finally, Evercore ISI cut their target price on Pinterest from $50.00 to $48.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.30.

Pinterest Price Performance

Shares of PINS traded down $4.77 during trading hours on Friday, hitting $29.16. The stock had a trading volume of 51,716,633 shares, compared to its average volume of 9,484,021. The firm has a 50 day simple moving average of $31.88 and a 200-day simple moving average of $36.36. The firm has a market capitalization of $20.01 billion, a P/E ratio of 106.56, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business's 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 transaction, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm'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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PINS. Prospera Private Wealth LLC grew its position in Pinterest by 38.5% in the third quarter. Prospera Private Wealth LLC now owns 7,713 shares of the company's stock valued at $250,000 after acquiring an additional 2,146 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Pinterest during the 3rd quarter worth $458,000. Wrapmanager Inc. lifted its holdings in Pinterest by 12.2% in the 3rd quarter. Wrapmanager Inc. now owns 9,949 shares of the company's stock worth $322,000 after buying an additional 1,084 shares in the last quarter. Quest Partners LLC boosted its position in Pinterest by 1,109.4% in the 3rd quarter. Quest Partners LLC now owns 9,796 shares of the company's stock valued at $317,000 after buying an additional 8,986 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Pinterest by 1.0% during the third quarter. Swiss National Bank now owns 1,779,000 shares of the company's stock valued at $57,586,000 after acquiring an additional 16,800 shares in the last quarter. Institutional investors and hedge funds 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.