Pinterest (NYSE:PINS) Given New $44.00 Price Target at JPMorgan Chase & Co.

Pinterest (NYSE:PINS) had its target price hoisted by JPMorgan Chase & Co. from $38.00 to $44.00 in a research note released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on the stock. Stifel Nicolaus raised their target price on shares of Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a research report on Wednesday. Susquehanna upped their price objective on shares of Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a report on Friday, February 9th. Argus raised Pinterest from a hold rating to a buy rating and set a $45.00 price target for the company in a research report on Thursday, January 18th. Rosenblatt Securities restated a buy rating and issued a $48.00 price objective (up from $45.00) on shares of Pinterest in a report on Wednesday. Finally, Royal Bank of Canada upped their price target on Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $40.82.

Pinterest Trading Up 20.8 %

PINS opened at $40.40 on Wednesday. The stock has a market capitalization of $27.43 billion, a P/E ratio of 192.39, a PEG ratio of 4.58 and a beta of 0.99. Pinterest has a 12-month low of $20.60 and a 12-month high of $41.60. The stock has a 50-day moving average price of $34.60 and a 200-day moving average price of $34.40.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 6.08%. On average, equities research analysts predict that Pinterest will post 0.36 EPS for the current year.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 33,580 shares in the company, valued at $1,145,078. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. In the last three months, insiders sold 164,471 shares of company stock valued at $5,773,431. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the stock. AE Wealth Management LLC boosted its position in shares of Pinterest by 28.3% in the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock worth $327,000 after buying an additional 2,662 shares in the last quarter. Simplicity Solutions LLC grew its position in shares of Pinterest by 6.8% in the third quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock valued at $216,000 after purchasing an additional 510 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Pinterest by 9.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 142,700 shares of the company’s stock worth $3,857,000 after purchasing an additional 12,300 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Pinterest by 5.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock worth $1,157,000 after purchasing an additional 2,247 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Pinterest by 4.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,215,909 shares of the company’s stock valued at $32,866,000 after buying an additional 46,821 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.