Pinterest (NYSE:PINS) Now Covered by Analysts at Weiss Ratings

Investment analysts at Weiss Ratings initiated coverage on shares of Pinterest (NYSE:PINS) in a research note issued to investors on Saturday,Weiss Ratings reports. The firm set a “hold (c+)” rating on the stock.

A number of other research firms have also issued reports on PINS. Barclays raised their price target on Pinterest from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Cowen reiterated a “buy” rating on shares of Pinterest in a research note on Friday, August 8th. Monness Crespi & Hardt lifted their price objective on shares of Pinterest from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Mizuho assumed coverage on shares of Pinterest in a research report on Monday, September 29th. They issued an “outperform” rating and a $50.00 price objective on the stock. Finally, Morgan Stanley raised shares of Pinterest from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $37.00 to $45.00 in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Pinterest Price Performance

Shares of PINS traded up $0.61 during mid-day trading on Friday, reaching $33.71. 6,710,833 shares of the company’s stock were exchanged, compared to its average volume of 11,294,287. The stock has a market capitalization of $22.92 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.70 and a beta of 0.81. The business’s fifty day simple moving average is $34.29 and its 200-day simple moving average is $33.76. Pinterest has a 52-week low of $23.68 and a 52-week high of $40.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The company had revenue of $665.93 million for the quarter. Equities research analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrea Acosta sold 3,759 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total value of $131,414.64. Following the sale, the chief accounting officer directly owned 157,402 shares in the company, valued at $5,502,773.92. This trade represents a 2.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 640,236 shares of company stock worth $22,878,326 in the last ninety days. Corporate insiders own 7.06% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its position in shares of Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after buying an additional 506 shares in the last quarter. N.E.W. Advisory Services LLC lifted its holdings in shares of Pinterest by 505.7% in the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after purchasing an additional 713 shares in the last quarter. West Branch Capital LLC purchased a new stake in shares of Pinterest in the second quarter valued at about $36,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest in the 2nd quarter valued at approximately $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Pinterest in the 2nd quarter valued at approximately $45,000. 88.81% of the stock is currently owned by hedge funds and other 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.