Pinterest (NYSE:PINS) PT Raised to $46.00

Pinterest (NYSE:PINS) had its target price boosted by Stifel Nicolaus from $42.00 to $46.00 in a report released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Pinterest from $34.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Rosenblatt Securities reiterated a buy rating and issued a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a report on Wednesday. Argus upgraded Pinterest from a hold rating to a buy rating and set a $45.00 target price for the company in a research note on Thursday, January 18th. Wedbush upped their price target on Pinterest from $35.00 to $38.00 and gave the company a neutral rating in a report on Friday, February 9th. Finally, Evercore ISI boosted their price objective on shares of Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a research report on Friday, January 26th. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Pinterest currently has a consensus rating of Moderate Buy and an average price target of $40.82.

Pinterest Stock Down 0.2 %

NYSE:PINS opened at $40.41 on Wednesday. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60. The stock’s fifty day moving average is $34.79 and its two-hundred day moving average is $34.53. The stock has a market capitalization of $27.44 billion, a price-to-earnings ratio of 192.43, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share 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 the consensus estimate of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. On average, sell-side analysts expect that Pinterest will post 0.37 EPS for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.65, for a total value of $733,000.00. Following the sale, the director now directly owns 54,215 shares in the company, valued at $1,986,979.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock worth $5,773,431 in the last three months. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AE Wealth Management LLC lifted its position in shares of Pinterest by 28.3% during the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock valued at $327,000 after acquiring an additional 2,662 shares during the period. Simplicity Solutions LLC raised its holdings in Pinterest by 6.8% during the third quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock worth $216,000 after purchasing an additional 510 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Pinterest by 9.4% during the third 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. grew its holdings in Pinterest by 5.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock valued at $1,157,000 after purchasing an additional 2,247 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Pinterest by 4.0% in the third 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 owned by institutional investors and hedge funds.

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.