Pinterest, Inc. (NYSE:PINS) Receives $41.46 Consensus PT from Brokerages

Shares of Pinterest, Inc. (NYSE:PINS) have been given a consensus recommendation of “Moderate Buy” by the twenty-eight analysts that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $41.46.

A number of research firms have recently commented on PINS. Benchmark restated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. UBS Group lowered their price objective on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. TD Cowen started coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. Finally, Roth Mkm dropped their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th.

Pinterest Price Performance

Shares of PINS opened at $29.56 on Thursday. The company has a 50-day simple moving average of $30.94 and a two-hundred day simple moving average of $33.81. The firm has a market capitalization of $19.98 billion, a PE ratio of 98.54, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. The trade was a 2.37 % 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 $592,685 over the last quarter. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Maverick Capital Ltd. raised its stake in shares of Pinterest by 47.6% in the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after buying an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Pinterest by 8.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after acquiring an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after purchasing an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after purchasing an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after purchasing an additional 68,096 shares in the last quarter. 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.