Pinterest (NYSE:PINS) Rating Increased to Buy at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of Pinterest (NYSE:PINS) from a neutral rating to a buy rating in a research report sent to investors on Friday, MarketBeat Ratings reports. The brokerage currently has $40.00 price target on the stock.

A number of other equities analysts also recently weighed in on PINS. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. Raymond James dropped their target price on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. KeyCorp decreased their price target on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Finally, Robert W. Baird decreased their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.33.

Pinterest Trading Down 0.5 %

PINS stock opened at $30.72 on Friday. The stock has a market cap of $20.76 billion, a P/E ratio of 102.40, a P/E/G ratio of 2.17 and a beta of 1.04. The stock’s fifty day simple moving average is $30.61 and its two-hundred day simple moving average is $32.96. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19.

Insider Activity

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,157 shares of company stock worth $592,685. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

A number of large investors have recently modified their holdings of PINS. State Street Corp grew its position in Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after acquiring an additional 156,748 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after purchasing an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Pinterest in the third quarter worth $153,829,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.