Pinterest (NYSE:PINS) Upgraded at Monness Crespi & Hardt

Pinterest (NYSE:PINS) was upgraded by stock analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a $40.00 target price on the stock. Monness Crespi & Hardt’s price objective points to a potential upside of 29.70% from the stock’s current price.

PINS has been the topic of a number of other research reports. Rosenblatt Securities dropped their price target on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Roth Mkm dropped their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. UBS Group decreased their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. KeyCorp lowered their price target on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Raymond James cut their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.41.

Pinterest Stock Performance

Shares of NYSE PINS opened at $30.84 on Friday. The business’s 50-day simple moving average is $30.64 and its 200-day simple moving average is $33.05. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 102.80, a P/E/G ratio of 2.17 and a beta of 1.04.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s 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 completion of the sale, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock worth $592,685 over the last three months. 7.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

Several large investors have recently made changes to their positions in PINS. Maverick Capital Ltd. raised its position in Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after purchasing an additional 18,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after buying an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after acquiring an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Pinterest by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after acquiring an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after acquiring an additional 68,096 shares during the last quarter. 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.