Pinterest (NYSE:PINS) Upgraded at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of Pinterest (NYSE:PINS) from a neutral rating to a buy rating in a research report released on Friday morning, Marketbeat Ratings reports. They currently have $40.00 target price on the stock.

A number of other research firms have also recently issued reports on PINS. Rosenblatt Securities decreased their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Raymond James reduced their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Benchmark reiterated a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Piper Sandler lowered Pinterest from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $41.00 to $36.00 in a research report on Tuesday, December 10th. Finally, Robert W. Baird decreased their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $41.33.

Pinterest Stock Performance

Shares of Pinterest stock opened at $30.72 on Friday. The company’s 50 day moving average price is $30.61 and its 200-day moving average price is $32.96. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The stock has a market capitalization of $20.76 billion, a price-to-earnings ratio of 102.40, a P/E/G ratio of 2.17 and a beta of 1.04.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s 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 completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the transaction, the director now directly owns 31,386 shares in the company, valued at $972,338.28. This trade represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,157 shares of company stock valued at $592,685. 7.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Graypoint LLC bought a new stake in Pinterest in the 4th quarter worth about $317,000. Nordea Investment Management AB boosted its holdings in shares of Pinterest by 122.1% during the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after acquiring an additional 2,093,248 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Pinterest in the fourth quarter worth approximately $520,000. GAMMA Investing LLC raised its holdings in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Pinterest during the third quarter valued at approximately $87,000. Hedge funds and other 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.