Brokerages Set Pinterest, Inc. (NYSE:PINS) PT at $40.70

Shares of Pinterest, Inc. (NYSE:PINS) have earned a consensus rating of “Moderate Buy” from the twenty-nine ratings firms that are currently covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $40.70.

A number of research analysts recently issued reports on PINS shares. Rosenblatt Securities cut their price objective on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, January 10th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Friday, November 8th. KeyCorp lowered their price objective on Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Roth Mkm dropped their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th.

Pinterest Stock Performance

Shares of Pinterest stock opened at $31.71 on Monday. The stock’s fifty day moving average is $30.44 and its 200 day moving average is $32.16. Pinterest has a one year low of $27.00 and a one year high of $45.19. The stock has a market cap of $21.43 billion, a P/E ratio of 105.70, a P/E/G ratio of 1.55 and a beta of 1.04.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This trade represents a 3.66 % 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 worth $589,131 in the last quarter. 7.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after acquiring an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake 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 purchasing an additional 2,996,750 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Pinterest during the 3rd quarter valued at approximately $153,829,000. 88.81% of the stock is currently owned by hedge funds and other 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.