Pinterest (NYSE:PINS) PT Raised to $49.00

Pinterest (NYSE:PINS) had its price objective increased by Wells Fargo & Company from $48.00 to $49.00 in a report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also commented on PINS. Royal Bank of Canada raised their target price on shares of Pinterest from $48.00 to $52.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Rosenblatt Securities reissued a buy rating and issued a $48.00 target price (up from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Benchmark reaffirmed a hold rating on shares of Pinterest in a report on Wednesday, May 1st. Finally, Piper Sandler reaffirmed an overweight rating and set a $52.00 price target on shares of Pinterest in a report on Friday, June 14th. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $41.37.

Pinterest Stock Up 4.3 %

Shares of Pinterest stock opened at $44.97 on Tuesday. Pinterest has a twelve month low of $23.59 and a twelve month high of $45.19. The company has a 50-day simple moving average of $40.54 and a two-hundred day simple moving average of $37.72. The stock has a market capitalization of $30.72 billion, a price-to-earnings ratio of 214.15, a price-to-earnings-growth ratio of 4.28 and a beta of 0.97.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. On average, sell-side analysts anticipate that Pinterest will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.08, for a total transaction of $701,600.00. Following the transaction, the director now owns 34,215 shares in the company, valued at approximately $1,200,262.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.08, for a total transaction of $701,600.00. Following the transaction, the director now owns 34,215 shares in the company, valued at approximately $1,200,262.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total transaction of $481,590.34. Following the transaction, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,904 shares of company stock worth $1,613,557. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Pinterest by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after purchasing an additional 994,848 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after purchasing an additional 3,390,924 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Pinterest by 34.0% in the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after acquiring an additional 2,548,925 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Pinterest by 12.6% in the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after acquiring an additional 1,043,173 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of Pinterest by 0.7% in the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after acquiring an additional 64,270 shares in the last quarter. Institutional investors 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.