Pinterest (NYSE:PINS) Coverage Initiated at TD Cowen

Research analysts at TD Cowen assumed coverage on shares of Pinterest (NYSE:PINS) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $38.00 price target on the stock. TD Cowen’s price target indicates a potential upside of 24.55% from the company’s current price.

Several other analysts also recently weighed in on PINS. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest in a report on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and issued a $41.00 price objective (down previously from $45.00) on shares of Pinterest in a research note on Friday, November 8th. Rosenblatt Securities reduced their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Wedbush upgraded shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Oppenheimer reduced their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.86.

Pinterest Stock Performance

Shares of Pinterest stock opened at $30.51 on Tuesday. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market capitalization of $20.62 billion, a P/E ratio of 101.70, a PEG ratio of 2.15 and a beta of 1.02. The company’s fifty day moving average is $31.77 and its two-hundred day moving average is $35.67.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock worth $1,063,499 over the last ninety days. 7.11% of the stock is owned by company insiders.

Institutional Trading of Pinterest

Several institutional investors have recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd acquired a new stake in shares of Pinterest during the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Pinterest during the second quarter worth $26,000. Hexagon Capital Partners LLC raised its holdings in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC raised its holdings in shares of Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest during the second quarter worth $35,000. 88.81% of the stock is 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.