Pinterest, Inc. (NYSE:PINS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Pinterest, Inc. (NYSE:PINS) has been given a consensus rating of “Moderate Buy” by the twenty-seven analysts that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.97.

A number of equities research analysts have recently weighed in on PINS shares. Evercore ISI raised their price target on shares of Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Rosenblatt Securities restated a “buy” rating and issued a $45.00 target price on shares of Pinterest in a research report on Friday, February 9th. Argus upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Thursday, January 18th. Susquehanna raised their price objective on Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a report on Friday, February 9th. Finally, Wedbush boosted their price objective on Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th.

Insider Transactions at Pinterest

In related news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the sale, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the transaction, the director now directly owns 33,580 shares in the company, valued at $1,145,078. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,471 shares of company stock valued at $6,525,231. Corporate insiders own 6.85% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of institutional investors and hedge funds have recently made changes to their positions in PINS. Price T Rowe Associates Inc. MD boosted its holdings in Pinterest by 372.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock worth $487,394,000 after acquiring an additional 15,825,757 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Pinterest by 262.8% during the first quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after purchasing an additional 8,341,222 shares during the period. Norges Bank bought a new position in shares of Pinterest in the 4th quarter worth $241,229,000. Wellington Management Group LLP grew its position in Pinterest by 1,188.9% in the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after purchasing an additional 5,524,796 shares during the period. Finally, Fred Alger Management LLC increased its stake in Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after purchasing an additional 4,670,394 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of PINS stock opened at $32.40 on Friday. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The stock’s fifty day moving average price is $34.79 and its two-hundred day moving average price is $33.97. The company has a market cap of $22.00 billion, a PE ratio of -539.91, a P/E/G ratio of 4.49 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. On average, equities analysts predict that Pinterest will post 0.36 EPS for the current fiscal 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.