Pinterest (NYSE:PINS) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Pinterest (NYSE:PINS) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $41.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company dropped their price target on shares of Pinterest from $49.00 to $41.00 and set an overweight rating for the company in a research report on Wednesday, July 31st. Susquehanna dropped their target price on shares of Pinterest from $50.00 to $45.00 and set a positive rating on the stock in a report on Wednesday, July 31st. Piper Sandler dropped their price target on shares of Pinterest from $52.00 to $45.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. Benchmark reaffirmed a hold rating on shares of Pinterest in a report on Wednesday, July 31st. Finally, Robert W. Baird decreased their price target on shares of Pinterest from $44.00 to $41.00 and set an outperform rating on the stock in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $42.65.

Pinterest Trading Down 5.1 %

Shares of NYSE:PINS opened at $29.25 on Thursday. The stock has a market cap of $19.98 billion, a P/E ratio of 139.29, a P/E/G ratio of 3.57 and a beta of 1.00. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19. The company has a 50 day moving average of $35.26 and a 200 day moving average of $37.18.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The firm’s revenue was up 20.6% on a year-over-year basis. On average, equities analysts forecast that Pinterest will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total transaction of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 sale, the chief financial officer now owns 362,822 shares of the company’s stock, 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 worth $1,628,002. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Leibman Financial Services Inc. grew its stake in Pinterest by 0.9% in the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock valued at $1,383,000 after acquiring an additional 266 shares during the period. Legacy Capital Group California Inc. lifted its position in shares of Pinterest by 1.7% during the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after purchasing an additional 267 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after purchasing an additional 319 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock valued at $2,510,000 after purchasing an additional 372 shares during the period. Finally, Cornercap Investment Counsel Inc. raised its holdings in shares of Pinterest by 1.6% in the second quarter. Cornercap Investment Counsel Inc. now owns 23,197 shares of the company’s stock valued at $1,022,000 after buying an additional 373 shares during the last quarter. 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.