Pinterest (NYSE:PINS) Receives “Neutral” Rating from Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Pinterest (NYSE:PINS) in a research report released on Friday morning,Benzinga reports. Piper Sandler currently has a $41.00 target price on the stock, up from their previous target price of $36.00.

PINS has been the subject of a number of other reports. Robert W. Baird dropped their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Oppenheimer cut their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. 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. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.86.

Pinterest Price Performance

PINS opened at $40.02 on Friday. The company’s 50 day simple moving average is $31.23 and its 200-day simple moving average is $31.57. Pinterest has a one year low of $27.00 and a one year high of $45.19. The stock has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. As a group, analysts anticipate that Pinterest will post 0.59 EPS for the current year.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The sale 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 Pinterest stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the sale, the director now directly owns 31,386 shares in the company, valued at $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $589,131 in the last 90 days. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors have recently modified their holdings of the business. Founders Financial Alliance LLC lifted its holdings in Pinterest by 5.9% during the 4th quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company’s stock worth $292,000 after buying an additional 560 shares during the period. Clare Market Investments LLC bought a new stake in Pinterest in the fourth quarter valued at approximately $252,000. Independent Advisor Alliance increased its position in Pinterest by 26.3% during the 4th quarter. Independent Advisor Alliance now owns 10,916 shares of the company’s stock valued at $317,000 after purchasing an additional 2,274 shares during the period. Daiwa Securities Group Inc. raised its holdings in Pinterest by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 65,496 shares of the company’s stock worth $1,900,000 after purchasing an additional 1,335 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Pinterest by 167.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331,899 shares of the company’s stock worth $9,625,000 after purchasing an additional 207,917 shares during the period. 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.