Pinterest (NYSE:PINS) Now Covered by Analysts at TD Cowen

TD Cowen began coverage on shares of Pinterest (NYSE:PINS) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $38.00 price target on the stock.

Several other research firms have also recently commented on PINS. Rosenblatt Securities lowered their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. UBS Group decreased their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Oppenheimer dropped their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Barclays reduced their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Finally, Piper Sandler reiterated an “overweight” rating and set a $41.00 price target (down previously from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.86.

Pinterest Price Performance

PINS opened at $31.00 on Tuesday. The stock has a market capitalization of $20.95 billion, a P/E ratio of 103.60, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. The company’s 50 day simple moving average is $31.77 and its 200-day simple moving average is $35.67. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Insiders Place Their Bets

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 directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now owns 32,536 shares of the company’s stock, valued at $967,295.28. This represents a 3.41 % 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 valued at $1,063,499 in the last quarter. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest in the second quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new stake in Pinterest in the 2nd quarter worth about $26,000. Hexagon Capital Partners LLC boosted its holdings in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC boosted its holdings in Pinterest by 113.4% in the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of Pinterest during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds 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.