Pinterest, Inc. (NYSE:PINS) Receives $41.46 Consensus PT from Analysts

Shares of Pinterest, Inc. (NYSE:PINS) have received a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are currently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $41.46.

A number of brokerages recently issued reports on PINS. Benchmark restated a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Wedbush upgraded shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. KeyCorp reduced their target price on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Roth Mkm lowered their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a report on Tuesday, December 10th.

Pinterest Trading Down 0.5 %

Pinterest stock opened at $29.00 on Thursday. The firm has a market capitalization of $19.60 billion, a P/E ratio of 96.67, a PEG ratio of 2.17 and a beta of 1.02. The business has a 50-day moving average of $30.76 and a 200-day moving average of $33.50. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19.

Insiders Place Their Bets

In related news, 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 transaction of $38,548.00. Following the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. The trade was a 3.30 % 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. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,157 shares of company stock valued at $592,685. 7.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Institutional investors and hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Pinterest during the 3rd quarter worth about $87,000. Sanctuary Advisors LLC lifted its position in Pinterest by 42.2% during the third quarter. Sanctuary Advisors LLC now owns 124,353 shares of the company’s stock worth $3,733,000 after acquiring an additional 36,925 shares during the last quarter. TCW Group Inc. boosted its holdings in shares of Pinterest by 14.6% during the third quarter. TCW Group Inc. now owns 690,082 shares of the company’s stock worth $22,338,000 after acquiring an additional 88,086 shares during the period. Toronto Dominion Bank grew its position in shares of Pinterest by 36.7% in the third quarter. Toronto Dominion Bank now owns 77,842 shares of the company’s stock valued at $2,520,000 after purchasing an additional 20,881 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after purchasing an additional 76,920 shares during the period. 88.81% of the stock is currently 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.