Morgan Stanley Boosts Pinterest (NYSE:PINS) Price Target to $36.00

Pinterest (NYSE:PINS) had its price objective hoisted by equities research analysts at Morgan Stanley from $35.00 to $36.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 20.85% from the stock’s current price.

A number of other research analysts have also weighed in on PINS. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Pinterest in a research note on Monday. Roth Mkm dropped 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. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Oppenheimer lowered their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.86.

Pinterest Stock Down 2.0 %

Shares of NYSE:PINS opened at $29.79 on Monday. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The stock’s 50 day moving average is $30.52 and its 200-day moving average is $32.60. The firm has a market capitalization of $20.13 billion, a price-to-earnings ratio of 99.30, a PEG ratio of 2.17 and a beta of 1.04.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now directly owns 32,536 shares of the company’s stock, valued at $967,295.28. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,007 shares of company stock valued at $554,137. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in Pinterest during the second quarter valued at $52,000. Dai ichi Life Insurance Company Ltd bought a new stake in shares of Pinterest during the 2nd quarter valued at about $228,000. Thoroughbred Financial Services LLC bought a new stake in shares of Pinterest during the 2nd quarter valued at about $422,000. Oppenheimer Asset Management Inc. grew its holdings in shares of Pinterest by 17.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 43,786 shares of the company’s stock worth $1,930,000 after purchasing an additional 6,564 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Pinterest by 9.6% in the second quarter. Envestnet Asset Management Inc. now owns 549,409 shares of the company’s stock worth $24,212,000 after purchasing an additional 48,276 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

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.