Pinterest, Inc. (NYSE:PINS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Pinterest, Inc. (NYSE:PINS) have been given an average recommendation of “Moderate Buy” by the twenty-eight brokerages that are currently covering the company, Marketbeat.com reports. Eight equities 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 1 year price objective among brokers that have updated their coverage on the stock in the last year is $41.46.

Several brokerages recently issued reports on PINS. JPMorgan Chase & Co. cut their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Raymond James cut their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Rosenblatt Securities cut their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, KeyCorp decreased their target price on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, November 11th.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the sale, the director now owns 31,386 shares of the company’s stock, valued at approximately $972,338.28. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,157 shares of company stock valued at $592,685. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Large investors have recently modified their holdings of the company. Brown Shipley& Co Ltd bought a new stake in Pinterest during the second quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest in the 2nd quarter valued at about $26,000. Rothschild Investment LLC bought a new stake in shares of Pinterest during the 2nd quarter valued at about $35,000. V Square Quantitative Management LLC acquired a new stake in Pinterest during the third quarter worth approximately $37,000. Finally, Crewe Advisors LLC increased its holdings in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Down 0.5 %

Shares of Pinterest stock opened at $29.00 on Thursday. The company has a 50-day simple moving average of $30.76 and a two-hundred day simple moving average of $33.50. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The stock has a market capitalization of $19.60 billion, a price-to-earnings ratio of 96.67, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02.

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.