Cantor Fitzgerald Begins Coverage on Pinterest (NYSE:PINS)

Cantor Fitzgerald assumed coverage on shares of Pinterest (NYSE:PINS) in a research note released on Thursday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $41.00 price objective on the stock.

PINS has been the subject of a number of other reports. Stifel Nicolaus dropped their price objective on Pinterest from $46.00 to $45.00 and set a buy rating for the company in a research note on Wednesday, July 31st. Robert W. Baird dropped their target price on Pinterest from $44.00 to $41.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on shares of Pinterest from $44.00 to $50.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. Morgan Stanley raised their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company cut their target price on shares of Pinterest from $49.00 to $41.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $42.65.

Pinterest Trading Down 0.1 %

Shares of PINS opened at $30.80 on Thursday. The firm has a market cap of $21.13 billion, a P/E ratio of 146.67, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00. The company’s 50-day moving average price is $35.83 and its 200 day moving average price is $37.27. Pinterest has a 12-month low of $23.59 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) EPS. Equities research analysts forecast that Pinterest will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares in the company, valued at approximately $8,410,770. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,689 shares of company stock valued at $1,628,002. 7.11% of the stock is currently owned by insiders.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC increased its holdings in shares of Pinterest by 56.7% in the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock valued at $3,570,000 after purchasing an additional 34,876 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after buying an additional 51,455 shares during the last quarter. Contrarius Investment Management Ltd lifted its stake in shares of Pinterest by 300.0% in the 4th quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock worth $63,798,000 after acquiring an additional 1,291,854 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Pinterest by 10.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock valued at $8,586,000 after acquiring an additional 22,101 shares in the last quarter. Finally, Deltec Asset Management LLC acquired a new position in shares of Pinterest during the first quarter worth about $6,449,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.