Pinterest (NYSE:PINS) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Pinterest (NYSE:PINS) in a research report report published on Tuesday,RTT News reports. They currently have a $38.00 target price on the stock.

Several other research analysts have also weighed in on PINS. Wells Fargo & Company cut their price objective on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. UBS Group decreased their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Rosenblatt Securities reduced their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Robert W. Baird dropped their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.70.

Pinterest Stock Down 0.8 %

PINS stock opened at $32.97 on Tuesday. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of 109.89, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The stock’s fifty day simple moving average is $30.88 and its 200-day simple moving average is $31.83.

Insider Buying and Selling at Pinterest

In other news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock valued at $589,131 in the last ninety days. 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 modified their holdings of the stock. GAMMA Investing LLC boosted its position in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Pinterest in the third quarter valued at about $37,000. Crewe Advisors LLC increased its position in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares during the period. True Wealth Design LLC increased its position in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the period. Finally, Quarry LP lifted its position in Pinterest by 266.1% during the 2nd quarter. Quarry LP now owns 2,105 shares of the company’s stock valued at $93,000 after purchasing an additional 1,530 shares during the period. Institutional investors and hedge funds 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.