Pinterest (NYSE:PINS) Stock Rating Reaffirmed by Benchmark

Benchmark reiterated their hold rating on shares of Pinterest (NYSE:PINS) in a report released on Wednesday, Benzinga reports.

A number of other research firms have also recently issued reports on PINS. Wedbush raised their target price on Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a research note on Wednesday. Susquehanna boosted their target price on shares of Pinterest from $35.00 to $45.00 and gave the company a positive rating in a research note on Friday, February 9th. Royal Bank of Canada raised their price target on shares of Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research note on Friday, February 9th. Piper Sandler boosted their price objective on Pinterest from $48.00 to $50.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, KeyCorp decreased their price objective on Pinterest from $48.00 to $40.00 and set an overweight rating for the company in a report on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $40.82.

Pinterest Trading Down 0.2 %

Shares of PINS opened at $40.41 on Wednesday. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60. The firm has a market cap of $27.44 billion, a price-to-earnings ratio of 192.44, a PEG ratio of 4.64 and a beta of 0.99. The stock has a 50 day moving average of $34.79 and a 200-day moving average of $34.53.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. On average, sell-side analysts predict that Pinterest will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the sale, the director now directly owns 54,215 shares in the company, valued at $1,986,979.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the sale, the director now owns 54,215 shares of the company’s stock, valued at $1,986,979.75. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock valued at $5,773,431 in the last 90 days. 7.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Pinterest in the fourth quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new stake in shares of Pinterest in the 4th quarter valued at $30,000. Washington Trust Advisors Inc. boosted its holdings in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Quent Capital LLC increased its position in Pinterest by 71.2% during the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after buying an additional 460 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Pinterest during the fourth quarter valued at about $43,000. Institutional investors own 88.81% of the company’s stock.

About Pinterest

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.