Pinterest (NYSE:PINS) Stock Price Expected to Rise, Wedbush Analyst Says

Pinterest (NYSE:PINS) had its target price upped by Wedbush from $37.00 to $38.00 in a research report sent to investors on Friday, Marketbeat.com reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird decreased their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday. Morgan Stanley boosted their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Rosenblatt Securities restated a “buy” rating and issued a $48.00 price target on shares of Pinterest in a research note on Wednesday, July 31st. Finally, Raymond James lowered their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Pinterest Price Performance

PINS stock opened at $29.18 on Friday. The business’s 50-day moving average is $31.82 and its two-hundred day moving average is $36.36. The firm has a market capitalization of $20.02 billion, a P/E ratio of 97.27, a P/E/G ratio of 2.25 and a beta of 1.02. 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, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Pinterest by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after buying an additional 994,848 shares during the period. Baillie Gifford & Co. raised its position in Pinterest by 9.5% in the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock worth $445,818,000 after acquiring an additional 880,398 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Pinterest by 2.2% in the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock valued at $283,592,000 after acquiring an additional 176,540 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Pinterest by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock worth $262,695,000 after purchasing an additional 380,431 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.