Pinterest’s (PINS) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Pinterest (NYSE:PINS) in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a $48.00 price target on the stock.

PINS has been the subject of several other reports. Royal Bank of Canada boosted their price target on Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on Pinterest from $34.00 to $38.00 and gave the company a neutral rating in a research note on Friday, February 9th. Argus upgraded Pinterest from a hold rating to a buy rating and set a $45.00 price target for the company in a research note on Thursday, January 18th. KeyCorp boosted their price target on Pinterest from $37.00 to $48.00 and gave the company an overweight rating in a research note on Monday, February 5th. Finally, Evercore ISI boosted their price target on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research note on Friday, January 26th. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest has an average rating of Moderate Buy and a consensus price target of $37.80.

Pinterest Trading Down 0.6 %

Pinterest stock opened at $34.67 on Tuesday. Pinterest has a 12 month low of $20.60 and a 12 month high of $41.60. The stock’s 50 day moving average is $36.17 and its 200-day moving average is $33.20. The company has a market capitalization of $23.54 billion, a price-to-earnings ratio of -577.74, a PEG ratio of 4.78 and a beta of 1.00.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. As a group, equities research analysts predict that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $36.29, for a total value of $725,800.00. Following the completion of the sale, the director now directly owns 94,215 shares in the company, valued at $3,419,062.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $36.29, for a total value of $725,800.00. Following the completion of the sale, the director now directly owns 94,215 shares in the company, valued at $3,419,062.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 30,221 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $35.45, for a total value of $1,071,334.45. Following the completion of the sale, the chief financial officer now owns 327,358 shares of the company’s stock, valued at $11,604,841.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,471 shares of company stock worth $6,555,581. Insiders own 6.85% of the company’s stock.

Institutional Trading of Pinterest

A number of large investors have recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD grew its holdings in Pinterest by 372.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock worth $487,394,000 after acquiring an additional 15,825,757 shares during the period. Renaissance Technologies LLC grew its holdings in Pinterest by 262.8% during the 1st quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after acquiring an additional 8,341,222 shares during the period. Norges Bank acquired a new stake in Pinterest during the 4th quarter worth about $241,229,000. Wellington Management Group LLP grew its holdings in Pinterest by 1,188.9% during the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock worth $221,850,000 after acquiring an additional 5,524,796 shares during the period. Finally, Fred Alger Management LLC grew its holdings in Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after acquiring an additional 4,670,394 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.