Pinterest, Inc. (NYSE:PINS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Pinterest, Inc. (NYSE:PINS) has been given an average recommendation of “Moderate Buy” by the twenty-eight research firms that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $41.65.

Several research analysts recently weighed in on PINS shares. UBS Group decreased their price objective on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Rosenblatt Securities reduced their price target on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Roth Mkm reduced their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on 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 in the company, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares of the company’s stock, 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 90 days, insiders sold 48,287 shares of company stock worth $1,547,820. 7.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in shares of Pinterest during the third quarter valued at $153,829,000. Southpoint Capital Advisors LP bought a new stake in Pinterest in the 3rd quarter worth about $123,006,000. Ontario Teachers Pension Plan Board increased its holdings in Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in Pinterest in the 2nd quarter worth about $98,655,000. Finally, Ninety One UK Ltd increased its holdings in Pinterest by 44.6% in the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after buying an additional 1,679,348 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

PINS stock opened at $30.32 on Friday. The company’s 50 day moving average is $31.80 and its 200 day moving average is $35.39. The stock has a market cap of $20.49 billion, a price-to-earnings ratio of 101.07, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19.

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.