Pinterest (NYSE:PINS) Reaches New 1-Year High at $43.54

Pinterest, Inc. (NYSE:PINSGet Free Report) hit a new 52-week high on Friday . The company traded as high as $43.54 and last traded at $43.47, with a volume of 4365738 shares. The stock had previously closed at $42.73.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PINS shares. Royal Bank of Canada raised their price target on Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their target price on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company increased their price target on shares of Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 price objective (up from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. Finally, Piper Sandler restated an “overweight” rating and set a $52.00 price target (up previously from $50.00) on shares of Pinterest in a research report on Thursday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $41.34.

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Pinterest Trading Up 3.2 %

The company’s fifty day simple moving average is $38.24 and its 200 day simple moving average is $36.78. The firm has a market capitalization of $30.13 billion, a P/E ratio of 210.06, a price-to-earnings-growth ratio of 4.39 and a beta of 0.97.

Pinterest (NYSE:PINSGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. On average, analysts predict that Pinterest, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $35.08, for a total value of $701,600.00. Following the sale, the director now owns 34,215 shares in the company, valued at approximately $1,200,262.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold a total of 133,622 shares of company stock valued at $4,737,421 over the last ninety days. Company insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Pinterest by 6.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 246,122 shares of the company’s stock valued at $8,533,000 after buying an additional 14,300 shares during the last quarter. Cetera Advisors LLC purchased a new position in Pinterest in the 1st quarter worth approximately $1,175,000. Cetera Investment Advisers lifted its position in Pinterest by 103.4% in the 1st quarter. Cetera Investment Advisers now owns 63,535 shares of the company’s stock valued at $2,203,000 after acquiring an additional 32,305 shares in the last quarter. Swedbank AB purchased a new stake in Pinterest during the 1st quarter valued at $1,714,000. Finally, Virtu Financial LLC increased its holdings in shares of Pinterest by 93.7% in the 1st quarter. Virtu Financial LLC now owns 11,099 shares of the company’s stock worth $385,000 after purchasing an additional 5,368 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

About Pinterest

(Get Free Report)

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.

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