Pinterest, Inc. (NYSE:PINS) Receives $38.97 Average PT from Brokerages

Shares of Pinterest, Inc. (NYSE:PINS) have been given a consensus rating of “Moderate Buy” by the thirty-one analysts that are covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.9655.

A number of equities analysts have recently issued reports on PINS shares. BMO Capital Markets cut their price objective on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pinterest in a report on Monday, December 8th. The Goldman Sachs Group reduced their price objective on Pinterest from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen lowered Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, UBS Group decreased their price target on shares of Pinterest from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th.

Insider Buying and Selling at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total value of $1,991,123.83. Following the sale, the insider owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This trade represents a 19.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 301,042 shares of company stock worth $10,087,667. Insiders own 7.06% of the company’s stock.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Group LLC raised its holdings in shares of Pinterest by 4.5% in the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock worth $36,548,000 after purchasing an additional 43,541 shares during the period. Oppenheimer Asset Management Inc. increased its position in Pinterest by 243.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after buying an additional 49,204 shares during the last quarter. Norges Bank bought a new stake in shares of Pinterest in the second quarter valued at $477,853,000. KLP Kapitalforvaltning AS lifted its position in shares of Pinterest by 8.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock valued at $14,781,000 after buying an additional 30,500 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Pinterest by 101.2% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock worth $3,875,000 after acquiring an additional 54,365 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS stock opened at $25.93 on Thursday. Pinterest has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The stock has a 50 day simple moving average of $29.20 and a two-hundred day simple moving average of $33.34. The company has a market cap of $17.52 billion, a P/E ratio of 9.00, a PEG ratio of 1.65 and a beta of 0.89.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $665.93 million for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. On average, research analysts predict that Pinterest will post 0.6 earnings per share for the current year.

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.