Pinterest (NYSE:PINS) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Pinterest (NYSE:PINS) from a market perform rating to an outperform rating in a report published on Friday morning, Marketbeat reports. Sanford C. Bernstein currently has $47.00 price target on the stock, up from their prior price target of $34.00.

Other research analysts have also issued research reports about the company. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday. TD Cowen assumed coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target on the stock. Robert W. Baird cut their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a report on Tuesday, December 10th. Finally, Oppenheimer reduced their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

Pinterest Trading Up 19.1 %

Shares of PINS opened at $40.02 on Friday. The stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The firm has a fifty day simple moving average of $31.23 and a 200 day simple moving average of $31.57.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. As a group, research analysts predict that Pinterest will post 0.59 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction 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 sale, the director now directly owns 31,386 shares of the company’s stock, valued at approximately $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $589,131 in the last quarter. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently added to or reduced their stakes in the stock. Founders Financial Alliance LLC lifted its holdings in shares of Pinterest by 5.9% in the fourth quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company’s stock valued at $292,000 after purchasing an additional 560 shares in the last quarter. Clare Market Investments LLC purchased a new stake in Pinterest in the 4th quarter valued at $252,000. Independent Advisor Alliance lifted its stake in Pinterest by 26.3% during the 4th quarter. Independent Advisor Alliance now owns 10,916 shares of the company’s stock valued at $317,000 after acquiring an additional 2,274 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Pinterest by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 65,496 shares of the company’s stock worth $1,900,000 after acquiring an additional 1,335 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pinterest by 167.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331,899 shares of the company’s stock worth $9,625,000 after acquiring an additional 207,917 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.