Pinterest (NYSE:PINS – Get Rating) had its target price upped by KeyCorp from $24.00 to $28.00 in a research note released on Tuesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.
PINS has been the topic of a number of other reports. TheStreet cut shares of Pinterest from a c rating to a d+ rating in a research note on Tuesday, May 31st. Rosenblatt Securities started coverage on shares of Pinterest in a report on Tuesday, April 19th. They set a neutral rating and a $21.00 price objective on the stock. Barclays raised their price target on shares of Pinterest from $20.00 to $23.00 and gave the company an equal weight rating in a report on Tuesday. Piper Sandler lowered their price objective on shares of Pinterest from $23.00 to $22.00 and set a neutral rating for the company in a research report on Tuesday. Finally, Morgan Stanley decreased their price target on shares of Pinterest from $21.00 to $18.00 and set an equal weight rating for the company in a research report on Tuesday, July 19th. Nineteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has an average rating of Hold and a consensus target price of $29.76.
Pinterest Price Performance
Shares of PINS opened at $22.53 on Tuesday. The stock has a market cap of $14.95 billion, a PE ratio of 72.68, a P/E/G ratio of 6.27 and a beta of 1.19. The firm has a 50-day simple moving average of $19.53 and a two-hundred day simple moving average of $22.64. Pinterest has a 1-year low of $16.14 and a 1-year high of $66.00.
Insider Activity at Pinterest
In other Pinterest news, CEO William J. Ready acquired 222,551 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average cost of $22.47 per share, with a total value of $5,000,720.97. Following the purchase, the chief executive officer now owns 222,551 shares in the company, valued at $5,000,720.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO William J. Ready acquired 222,551 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $22.47 per share, for a total transaction of $5,000,720.97. Following the acquisition, the chief executive officer now directly owns 222,551 shares in the company, valued at approximately $5,000,720.97. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Evan Sharp sold 422,399 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $17.52, for a total transaction of $7,400,430.48. The disclosure for this sale can be found here. Insiders sold a total of 548,619 shares of company stock worth $10,307,146 in the last 90 days. 7.58% of the stock is owned by insiders.
Hedge Funds Weigh In On Pinterest
A number of hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in Pinterest by 134.4% during the 2nd quarter. Allworth Financial LP now owns 1,390 shares of the company’s stock valued at $25,000 after acquiring an additional 797 shares in the last quarter. Cohanzick Management LLC bought a new stake in shares of Pinterest during the first quarter valued at approximately $25,000. KRS Capital Management LLC bought a new stake in shares of Pinterest during the fourth quarter valued at approximately $26,000. Sandy Cove Advisors LLC bought a new stake in Pinterest in the fourth quarter valued at $33,000. Finally, First Horizon Advisors Inc. boosted its stake in Pinterest by 212.0% in the first quarter. First Horizon Advisors Inc. now owns 1,404 shares of the company’s stock worth $35,000 after purchasing an additional 954 shares in the last quarter. Institutional investors and hedge funds own 63.76% of the company’s stock.
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.
- Get a free copy of the StockNews.com research report on Pinterest (PINS)
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