Pinterest (NYSE:PINS) Upgraded at Guggenheim

Pinterest (NYSE:PINS) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat Ratings reports. The firm currently has a $40.00 price target on the stock, up from their prior price target of $39.00. Guggenheim’s price objective would indicate a potential upside of 15.34% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Raymond James raised their target price on shares of Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Roth Capital set a $32.00 price objective on shares of Pinterest in a research report on Monday, February 3rd. Piper Sandler reissued a “neutral” rating and set a $41.00 target price (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. KeyCorp decreased their target price on Pinterest from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Finally, Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Pinterest Stock Performance

NYSE PINS opened at $34.68 on Monday. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The business’s fifty day moving average is $34.56 and its two-hundred day moving average is $32.35. The stock has a market capitalization of $23.52 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, research analysts forecast that Pinterest will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the sale, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 237,417 shares of company stock valued at $7,803,946. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Whipplewood Advisors LLC acquired a new stake in Pinterest during the fourth quarter worth about $28,000. GAMMA Investing LLC lifted its position in shares of Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the period. Crewe Advisors LLC grew its holdings in shares of Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its position in shares of Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after purchasing an additional 1,204 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares in the last quarter. 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.