Pinterest (NYSE:PINS) PT Raised to $38.00

Pinterest (NYSE:PINS) had its price target boosted by Sanford C. Bernstein from $35.00 to $38.00 in a research note published on Wednesday, Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts also recently weighed in on PINS. Roth Mkm lifted their price objective on Pinterest from $38.00 to $40.00 and gave the company a neutral rating in a report on Wednesday. Evercore ISI boosted their price target on shares of Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a report on Friday, January 26th. Susquehanna increased their price objective on shares of Pinterest from $35.00 to $45.00 and gave the company a positive rating in a research note on Friday, February 9th. Wedbush lifted their price objective on shares of Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a report on Wednesday. Finally, Benchmark restated a hold rating on shares of Pinterest in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pinterest has an average rating of Moderate Buy and a consensus target price of $40.82.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $40.40 on Wednesday. The firm’s 50 day simple moving average is $34.60 and its 200-day simple moving average is $34.40. Pinterest has a one year low of $20.60 and a one year high of $41.60. The firm has a market cap of $27.43 billion, a PE ratio of 192.39, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a return on equity of 6.08% and a net margin of 4.64%. Equities research analysts predict that Pinterest will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, 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 at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently made changes to their positions in the business. AE Wealth Management LLC lifted its position in Pinterest by 28.3% during the third quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock valued at $327,000 after purchasing an additional 2,662 shares during the period. Simplicity Solutions LLC raised its stake in shares of Pinterest by 6.8% during the 3rd quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock valued at $216,000 after buying an additional 510 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Pinterest by 9.4% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 142,700 shares of the company’s stock valued at $3,857,000 after buying an additional 12,300 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Pinterest by 5.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock worth $1,157,000 after buying an additional 2,247 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Pinterest by 4.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,215,909 shares of the company’s stock worth $32,866,000 after acquiring an additional 46,821 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.