Pinterest (NYSE:PINS) Price Target Raised to $36.00

Pinterest (NYSE:PINS) had its target price hoisted by Morgan Stanley from $35.00 to $36.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also recently issued reports on PINS. KeyCorp cut their price objective on shares of Pinterest from $39.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Raymond James cut their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Piper Sandler downgraded Pinterest from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $41.00 to $36.00 in a report on Tuesday, December 10th. Oppenheimer lowered their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Wells Fargo & Company reduced their price target on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.86.

Pinterest Price Performance

NYSE:PINS opened at $30.65 on Monday. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 102.17, a PEG ratio of 1.52 and a beta of 1.04. The business has a 50 day moving average of $30.46 and a 200 day moving average of $32.58. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now owns 32,536 shares in the company, valued at approximately $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,007 shares of company stock worth $554,137 over the last ninety days. 7.11% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Merit Financial Group LLC purchased a new stake in shares of Pinterest in the fourth quarter worth $363,000. Avanza Fonder AB bought a new position in Pinterest in the 4th quarter worth about $2,389,000. Empirical Asset Management LLC purchased a new stake in Pinterest during the 4th quarter valued at about $693,000. Eagle Rock Investment Company LLC increased its stake in Pinterest by 6.0% during the 4th quarter. Eagle Rock Investment Company LLC now owns 68,498 shares of the company’s stock valued at $1,986,000 after purchasing an additional 3,881 shares in the last quarter. Finally, Carnegie Investment Counsel increased its stake in Pinterest by 5.6% during the 4th quarter. Carnegie Investment Counsel now owns 19,194 shares of the company’s stock valued at $557,000 after purchasing an additional 1,022 shares in the last quarter. Hedge funds and other institutional investors 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.