Pinterest (NYSE:PINS) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Pinterest (NYSE:PINS) in a research report issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 35.82% from the stock’s previous close.

Several other analysts have also recently issued reports on PINS. The Goldman Sachs Group upped their target price on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Susquehanna lowered their price objective on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research note on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. Roth Mkm lowered their price target on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays cut their price objective on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.87.

Pinterest Trading Up 3.9 %

Shares of Pinterest stock opened at $31.66 on Monday. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19. The stock has a 50 day moving average of $32.18 and a 200 day moving average of $36.68. The firm has a market cap of $21.63 billion, a PE ratio of 150.76, a PEG ratio of 3.22 and a beta of 1.00.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million during 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%. Pinterest’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. As a group, equities research analysts forecast that Pinterest will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’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 completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Pinterest by 1,188.9% during the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock worth $221,850,000 after acquiring an additional 5,524,796 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Pinterest by 128.2% during the first quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock worth $193,473,000 after purchasing an additional 3,134,776 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Pinterest in the 2nd quarter worth $98,655,000. Contour Asset Management LLC boosted its position in shares of Pinterest by 79.5% in the 4th quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock worth $169,242,000 after purchasing an additional 2,023,500 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Pinterest by 45.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock valued at $198,846,000 after buying an additional 1,798,494 shares in the last quarter. 88.81% of the stock is currently owned by 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.