Pinterest (NYSE:PINS) Now Covered by Weiss Ratings

Weiss Ratings initiated coverage on shares of Pinterest (NYSE:PINS) in a research report report published on Saturday,Weiss Ratings reports. The firm issued a hold (c+) rating on the stock.

PINS has been the topic of a number of other reports. Guggenheim restated a “buy” rating on shares of Pinterest in a research note on Tuesday, September 2nd. Sanford C. Bernstein lifted their target price on Pinterest from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Susquehanna restated a “positive” rating and issued a $42.00 price objective on shares of Pinterest in a report on Friday, August 8th. Finally, TD Cowen increased their target price on shares of Pinterest from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Pinterest Price Performance

Shares of PINS stock traded up $0.63 during trading hours on Friday, hitting $33.73. The stock had a trading volume of 6,932,168 shares, compared to its average volume of 11,294,287. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.70 and a beta of 0.81. Pinterest has a one year low of $23.68 and a one year high of $40.90. The stock’s 50-day moving average price is $34.29 and its two-hundred day moving average price is $33.76.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The firm had revenue of $665.93 million for the quarter. As a group, equities research analysts predict that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In related news, 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 value of $131,414.64. Following the completion of the sale, the chief accounting officer owned 157,402 shares of the company’s stock, valued at approximately $5,502,773.92. This trade represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total transaction of $40,250.00. Following the completion of the sale, the director directly owned 30,600 shares in the company, valued at approximately $1,071,000. This trade represents a 3.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 640,236 shares of company stock worth $22,878,326 in the last ninety days. Corporate insiders own 7.06% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several institutional investors have recently modified their holdings of PINS. Oppenheimer Asset Management Inc. boosted its stake in Pinterest by 243.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after acquiring an additional 49,204 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Pinterest by 101.2% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock worth $3,875,000 after buying an additional 54,365 shares during the last quarter. Truist Financial Corp increased its position in shares of Pinterest by 15.6% during the second 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 in the last quarter. Ninety One UK Ltd increased its holdings in Pinterest by 11.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,689,112 shares of the company’s stock worth $239,872,000 after buying an additional 661,757 shares in the last quarter. Finally, Aurora Investment Counsel purchased a new position in shares of Pinterest in the 2nd quarter worth $1,934,000. 88.81% of the stock is currently owned by institutional investors.

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.