Pinterest (NYSE:PINS – Get Rating) had its price target reduced by Piper Sandler from $23.00 to $22.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.
A number of other research analysts have also recently issued reports on the stock. Susquehanna Bancshares upgraded shares of Pinterest to a positive rating and lifted their target price for the company from $22.00 to $35.00 in a research note on Tuesday. Wedbush cut their target price on shares of Pinterest from $39.00 to $26.00 in a research note on Thursday, April 28th. Atlantic Securities set a $22.00 target price on shares of Pinterest in a research note on Tuesday, July 19th. Evercore ISI boosted their price objective on shares of Pinterest from $24.00 to $28.00 and gave the stock an in-line rating in a research report on Tuesday. Finally, DA Davidson dropped their price objective on shares of Pinterest from $33.00 to $20.00 in a research report on Thursday, April 28th. Nineteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $29.76.
Pinterest Trading Up 0.4 %
NYSE PINS opened at $22.53 on Tuesday. The stock’s 50 day moving average is $19.53 and its two-hundred day moving average is $22.64. The company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 72.68, a PEG ratio of 6.27 and a beta of 1.19. Pinterest has a 1-year low of $16.14 and a 1-year high of $66.00.
Insider Activity
In other news, SVP Naveen Gavini sold 5,491 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $20.00, for a total value of $109,820.00. Following the completion of the transaction, the senior vice president now owns 529,551 shares of the company’s stock, valued at approximately $10,591,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Naveen Gavini sold 5,491 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $20.00, for a total value of $109,820.00. Following the completion of the transaction, the senior vice president now directly owns 529,551 shares of the company’s stock, valued at approximately $10,591,020. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Evan Sharp sold 422,399 shares of the company’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $17.52, for a total transaction of $7,400,430.48. The disclosure for this sale can be found here. Insiders sold 548,619 shares of company stock valued at $10,307,146 in the last quarter. Company insiders own 7.58% of the company’s stock.
Hedge Funds Weigh In On Pinterest
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TFC Financial Management boosted its stake in Pinterest by 23.5% in the 4th quarter. TFC Financial Management now owns 2,287 shares of the company’s stock worth $83,000 after purchasing an additional 435 shares during the period. Argent Trust Co boosted its stake in shares of Pinterest by 2.6% during the 4th quarter. Argent Trust Co now owns 18,713 shares of the company’s stock worth $680,000 after buying an additional 470 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Pinterest by 5.7% during the 4th quarter. Blair William & Co. IL now owns 8,907 shares of the company’s stock worth $324,000 after buying an additional 483 shares during the last quarter. Mengis Capital Management Inc. boosted its stake in shares of Pinterest by 4.3% during the 1st quarter. Mengis Capital Management Inc. now owns 12,000 shares of the company’s stock worth $295,000 after buying an additional 500 shares during the last quarter. Finally, Koss Olinger Consulting LLC boosted its stake in shares of Pinterest by 7.2% during the 4th quarter. Koss Olinger Consulting LLC now owns 7,563 shares of the company’s stock worth $275,000 after buying an additional 508 shares during the last quarter. 63.76% of the stock is owned by institutional investors and hedge funds.
About Pinterest
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.
Further Reading
- Get a free copy of the StockNews.com research report on Pinterest (PINS)
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