Pinterest, Inc. (NYSE:PINS) Given Average Recommendation of “Hold” by Analysts

Shares of Pinterest, Inc. (NYSE:PINS) have earned an average rating of “Hold” from the twenty-two brokerages that are presently covering the company, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $30.58.

Several brokerages have recently weighed in on PINS. Wedbush began coverage on shares of Pinterest in a research report on Monday, August 21st. They issued a “neutral” rating and a $30.00 price target for the company. Morgan Stanley upped their price target on shares of Pinterest from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company upped their price target on shares of Pinterest from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Pinterest from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, Wolfe Research increased their price objective on shares of Pinterest from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd.

Insider Activity

In related news, Chairman Benjamin Silbermann sold 180,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $24.02, for a total transaction of $4,323,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Wanjiku Juanita Walcott sold 25,557 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $25.34, for a total value of $647,614.38. Following the completion of the sale, the insider now owns 277,446 shares in the company, valued at approximately $7,030,481.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Benjamin Silbermann sold 180,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $24.02, for a total transaction of $4,323,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 900,048 shares of company stock worth $23,699,555. 6.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PINS. Price T Rowe Associates Inc. MD grew its stake in Pinterest by 372.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock valued at $487,394,000 after buying an additional 15,825,757 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Pinterest by 262.8% during the 1st quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after acquiring an additional 8,341,222 shares during the period. Capital World Investors bought a new position in Pinterest during the 2nd quarter valued at about $187,614,000. Norges Bank bought a new position in Pinterest during the 4th quarter valued at about $149,748,000. Finally, Clearbridge Investments LLC bought a new position in Pinterest during the 2nd quarter valued at about $147,982,000. Institutional investors and hedge funds own 72.63% of the company’s stock.

Pinterest Price Performance

Pinterest stock opened at $28.02 on Friday. The stock has a market cap of $18.77 billion, a price-to-earnings ratio of -65.16, a price-to-earnings-growth ratio of 90.70 and a beta of 1.03. Pinterest has a 1 year low of $20.60 and a 1 year high of $30.86. The firm has a 50-day moving average of $27.55 and a two-hundred day moving average of $26.05.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.06. The company had revenue of $708.03 million during the quarter, compared to analysts’ expectations of $698.28 million. Pinterest had a negative net margin of 10.14% and a negative return on equity of 4.59%. Research analysts expect that Pinterest will post 0.01 earnings per share for the current year.

Pinterest Company Profile

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.