Pinterest’s (PINS) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Pinterest (NYSE:PINS) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has a $33.00 price objective on the stock, down from their previous price objective of $35.00.

Other equities research analysts have also recently issued research reports about the company. Guggenheim reduced their price objective on Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus lifted their target price on Pinterest from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Sanford C. Bernstein dropped their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday. Weiss Ratings started coverage on Pinterest in a research note on Saturday, November 1st. They set a “hold (c+)” rating for the company. Finally, Benchmark decreased their price target on Pinterest from $48.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.55.

Pinterest Stock Up 2.9%

PINS traded up $0.78 on Wednesday, reaching $27.06. The company’s stock had a trading volume of 24,459,233 shares, compared to its average volume of 15,017,222. The company has a market capitalization of $18.40 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 1.37 and a beta of 0.96. Pinterest has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The stock has a 50 day moving average of $33.58 and a two-hundred day moving average of $33.79.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The firm had revenue of $665.93 million for the quarter. As a group, analysts anticipate that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the completion of the transaction, the chief financial officer directly owned 312,422 shares in the company, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $34.96, for a total transaction of $131,414.64. Following the transaction, the chief accounting officer owned 157,402 shares of the company’s stock, valued at approximately $5,502,773.92. The trade was a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 640,236 shares of company stock valued at $22,878,326 in the last quarter. Insiders own 7.06% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its holdings in Pinterest by 243.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock valued at $2,490,000 after purchasing an additional 49,204 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Pinterest by 101.2% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock worth $3,875,000 after acquiring an additional 54,365 shares during the period. Truist Financial Corp raised its holdings in Pinterest by 15.6% in the 2nd quarter. Truist Financial Corp now owns 98,363 shares of the company’s stock valued at $3,527,000 after acquiring an additional 13,267 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of Pinterest by 11.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,689,112 shares of the company’s stock worth $239,872,000 after purchasing an additional 661,757 shares during the period. Finally, Machina Capital S.A.S. purchased a new position in shares of Pinterest during the 2nd quarter worth $848,000. 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.