Pinterest (NYSE:PINS) Price Target Raised to $36.00 at Morgan Stanley

Pinterest (NYSE:PINS) had its price objective hoisted by stock analysts at Morgan Stanley from $35.00 to $36.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 20.85% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research report on Monday, October 7th. KeyCorp reduced their target price on shares of Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company lowered their price target on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a research note on Monday. Finally, Robert W. Baird lowered their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.86.

Pinterest Trading Down 2.0 %

PINS opened at $29.79 on Monday. The stock has a market capitalization of $20.13 billion, a P/E ratio of 99.30, a PEG ratio of 2.17 and a beta of 1.04. The stock has a 50-day moving average price of $30.52 and a 200-day moving average price of $32.60. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred 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 directly owns 32,536 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s 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 completion of the sale, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,007 shares of company stock worth $554,137 over the last ninety days. 7.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised 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 during the last quarter. Geode Capital Management LLC increased its stake in Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after purchasing an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after buying an additional 460,708 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Pinterest during the third quarter valued at approximately $153,829,000. 88.81% of the stock is owned by institutional investors.

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.