Pinterest (NYSE:PINS) Given “Hold” Rating at Benchmark

Benchmark reissued their hold rating on shares of Pinterest (NYSE:PINS) in a research note issued to investors on Wednesday morning, Benzinga reports.

PINS has been the subject of several other research reports. Evercore ISI boosted their target price on Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a research note on Friday, January 26th. Argus upgraded shares of Pinterest from a hold rating to a buy rating and set a $45.00 target price on the stock in a research report on Thursday, January 18th. JPMorgan Chase & Co. upped their price target on shares of Pinterest from $34.00 to $38.00 and gave the stock a neutral rating in a report on Friday, February 9th. BMO Capital Markets assumed coverage on Pinterest in a report on Tuesday, January 9th. They set an outperform rating and a $45.00 price objective on the stock. Finally, Stifel Nicolaus upped their target price on Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Pinterest has an average rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Trading Down 0.2 %

Shares of Pinterest stock opened at $40.41 on Wednesday. The company has a 50 day moving average of $34.79 and a 200-day moving average of $34.53. The company has a market cap of $27.44 billion, a PE ratio of 192.44, a price-to-earnings-growth ratio of 4.64 and a beta of 0.99. Pinterest has a 1-year low of $20.60 and a 1-year high of $41.60.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The firm had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Research analysts forecast that Pinterest will post 0.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the transaction, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,471 shares of company stock worth $5,773,431. Corporate insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in Pinterest by 26.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock worth $124,000 after buying an additional 737 shares during the last quarter. Essex LLC increased its position in shares of Pinterest by 3.6% during the first quarter. Essex LLC now owns 35,741 shares of the company’s stock worth $1,239,000 after acquiring an additional 1,237 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Pinterest by 66.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock worth $145,594,000 after acquiring an additional 1,678,756 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Pinterest by 301.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 149,303 shares of the company’s stock valued at $5,176,000 after acquiring an additional 112,107 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 460 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

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.