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

Benchmark reiterated their hold rating on shares of Pinterest (NYSE:PINS) in a research report released on Wednesday, Benzinga reports.

Several other equities analysts have also recently issued reports on PINS. Wedbush raised their price objective on Pinterest from $38.00 to $44.00 and gave the stock a neutral rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Pinterest from $34.00 to $38.00 and gave the stock a neutral rating in a report on Friday, February 9th. Royal Bank of Canada lifted their price target on shares of Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a report on Friday, February 9th. Evercore ISI boosted their price objective on shares of Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research report on Friday, January 26th. Finally, Rosenblatt Securities reissued a buy rating and issued a $48.00 target price (up previously from $45.00) on shares of Pinterest in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Stock Performance

PINS opened at $40.40 on Wednesday. The company has a market capitalization of $27.43 billion, a P/E ratio of 192.39, a PEG ratio of 4.58 and a beta of 0.99. The company has a 50-day moving average of $34.60 and a 200-day moving average of $34.40. Pinterest has a 1-year low of $20.60 and a 1-year high of $41.60.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 6.08% and a net margin of 4.64%. The firm had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. As a group, sell-side analysts expect that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Capital Group California Inc. lifted its stake in Pinterest by 1.7% during the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock valued at $598,000 after buying an additional 267 shares in the last quarter. Venture Visionary Partners LLC lifted its position in shares of Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after acquiring an additional 324 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Creative Financial Designs Inc. ADV grew its position in Pinterest by 0.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after purchasing an additional 348 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Pinterest by 40.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after purchasing an additional 378 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.