Benchmark Reiterates Hold Rating for Pinterest (NYSE:PINS)

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

A number of other research firms have also weighed in on PINS. Rosenblatt Securities reissued a “buy” rating and set a $48.00 price objective on shares of Pinterest in a research note on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $41.00 target price on shares of Pinterest in a report on Monday, October 7th. Raymond James decreased their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Morgan Stanley upped their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Susquehanna decreased their target price on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Stock Performance

NYSE:PINS opened at $30.38 on Friday. The firm has a market cap of $20.85 billion, a PE ratio of 101.27, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The business has a 50 day moving average price of $31.82 and a 200-day moving average price of $36.36.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated 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 owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Pinterest by 195.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after acquiring an additional 1,422 shares during the period. Norden Group LLC bought a new position in shares of Pinterest during the 1st quarter valued at approximately $214,000. Janney Montgomery Scott LLC grew its stake in shares of Pinterest by 7.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after acquiring an additional 4,237 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Pinterest by 26.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock valued at $124,000 after acquiring an additional 737 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Pinterest by 19.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,424 shares of the company’s stock valued at $708,000 after acquiring an additional 3,371 shares during the period. 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.