Pinterest (NYSE:PINS) Now Covered by TD Cowen

TD Cowen began coverage on shares of Pinterest (NYSE:PINS) in a research note published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $38.00 price objective on the stock.

Several other equities research analysts have also commented on the stock. Wedbush upgraded shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a report on Monday, October 7th. Stifel Nicolaus dropped their price target on Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, Roth Mkm dropped their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Seven research 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 stock. According to data from MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and an average target price of $41.86.

Pinterest Stock Performance

Shares of PINS opened at $31.00 on Tuesday. The stock has a 50-day simple moving average of $31.77 and a 200-day simple moving average of $35.67. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The stock has a market capitalization of $20.95 billion, a PE ratio of 103.60, a PEG ratio of 2.15 and a beta of 1.02.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now directly owns 32,536 shares of the company’s stock, valued at $967,295.28. This trade 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 over the last ninety days. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several large investors have recently made changes to their positions in PINS. Kornitzer Capital Management Inc. KS lifted its stake in shares of Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after buying an additional 68,096 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after acquiring an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after purchasing an additional 87,041 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after purchasing an additional 460,708 shares during the period. Finally, GDS Wealth Management acquired a new stake in Pinterest in the 3rd quarter valued at approximately $2,517,000. Institutional investors 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.