Pinterest (NYSE:PINS) Receives Outperform Rating from Wedbush

Pinterest (NYSE:PINS)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a report released on Tuesday,RTT News reports. They presently have a $38.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 14.35% from the company’s previous close.

PINS has been the subject of several other reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Robert W. Baird lowered their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” 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. Oppenheimer lowered their target price 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, Morgan Stanley upped their price target on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.70.

Pinterest Stock Up 1.0 %

Shares of Pinterest stock opened at $33.23 on Tuesday. The company has a market cap of $22.46 billion, a PE ratio of 110.77, a P/E/G ratio of 1.61 and a beta of 1.04. The business has a 50 day moving average of $30.88 and a 200 day moving average of $31.83. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19.

Insider Activity at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $589,131 over the last quarter. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PINS. GAMMA Investing LLC raised its position in 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 purchasing an additional 415 shares during the period. V Square Quantitative Management LLC bought a new position in Pinterest in the 3rd quarter worth about $37,000. Crewe Advisors LLC increased its position in shares of Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares during the period. True Wealth Design LLC lifted its holdings in shares of Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after buying an additional 1,487 shares during the period. Finally, Quarry LP increased 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 own 88.81% of the company’s stock.

Pinterest Company Profile

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.