Pinterest (NYSE:PINS) Receives Outperform Rating from Wedbush

Pinterest (NYSE:PINS)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $38.00 target price on the stock. Wedbush’s target price indicates a potential upside of 15.27% from the company’s previous close.

Other analysts have also issued research reports about the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Piper Sandler downgraded shares of Pinterest from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $41.00 to $36.00 in a research report on Tuesday, December 10th. UBS Group cut 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. Wells Fargo & Company dropped their target price on Pinterest from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Rosenblatt Securities decreased their price target 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. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.70.

Pinterest Price Performance

NYSE PINS traded down $0.51 during trading on Tuesday, hitting $32.97. The company’s stock had a trading volume of 12,634,228 shares, compared to its average volume of 10,490,585. The company has a market cap of $22.28 billion, a PE ratio of 109.89, a P/E/G ratio of 1.61 and a beta of 1.04. The business’s 50 day simple moving average is $30.64 and its 200-day simple moving average is $31.94. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,157 shares of company stock valued at $589,131. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of large investors have recently modified their holdings of PINS. Sequoia Financial Advisors LLC raised its stake in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after acquiring an additional 313 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after buying an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Pinterest by 2.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after buying an additional 342 shares during the last quarter. Leibman Financial Services Inc. increased its holdings in shares of Pinterest by 1.2% in the third quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock valued at $1,028,000 after purchasing an additional 368 shares during the last quarter. Finally, Commerce Bank increased its position in Pinterest by 3.3% during the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after purchasing an additional 378 shares during the last quarter. 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.