Pinterest (NYSE:PINS) Rating Increased to Buy at Monness Crespi & Hardt

Pinterest (NYSE:PINS) was upgraded by stock analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a report released on Friday, MarketBeat.com reports. The firm presently has a $40.00 price target on the stock. Monness Crespi & Hardt’s price objective would indicate a potential upside of 30.21% from the company’s previous close.

Several other equities analysts also recently commented on the company. UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Oppenheimer decreased their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Robert W. Baird dropped their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, November 8th. KeyCorp reduced their target price on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, TD Cowen assumed coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Pinterest Stock Performance

Shares of PINS stock opened at $30.72 on Friday. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The company has a market capitalization of $20.76 billion, a price-to-earnings ratio of 102.40, a PEG ratio of 2.17 and a beta of 1.04. The company has a 50-day simple moving average of $30.61 and a 200 day simple moving average of $32.88.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the transaction, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,157 shares of company stock valued at $592,685. 7.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PINS. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest in the 2nd quarter valued at about $25,000. GAMMA Investing LLC lifted its stake in shares of Pinterest by 63.5% in the fourth 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. V Square Quantitative Management LLC acquired a new position in Pinterest in the third quarter valued at $37,000. Crewe Advisors LLC lifted its stake in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after buying an additional 550 shares during the period. Finally, True Wealth Design LLC boosted its position in shares of Pinterest by 8,261.1% during the 3rd 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 in 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.