Pinterest (NYSE:PINS) Given New $39.00 Price Target at Guggenheim

Pinterest (NYSE:PINS) had its price target upped by investment analysts at Guggenheim from $33.00 to $39.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Guggenheim’s price objective indicates a potential downside of 1.84% from the stock’s current price.

PINS has been the subject of several other reports. UBS Group cut their price target on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Robert W. Baird reduced their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research report on Tuesday, December 10th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday. Finally, Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $34.00 to $47.00 in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.55.

Pinterest Stock Up 18.3 %

NYSE PINS traded up $6.14 during trading hours on Friday, hitting $39.73. 27,502,480 shares of the company were exchanged, compared to its average volume of 11,276,909. The company has a 50 day moving average of $31.23 and a two-hundred day moving average of $31.57. The firm has a market cap of $26.85 billion, a price-to-earnings ratio of 131.66, a PEG ratio of 1.68 and a beta of 1.06. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 6.21% and a return on equity of 8.37%. On average, equities research analysts predict that Pinterest will post 0.42 EPS for the current year.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now directly owns 32,536 shares in the company, valued at $967,295.28. The trade was a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’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 transaction 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 trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by insiders.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers increased its stake in shares of Pinterest by 8.8% in the second quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock worth $3,046,000 after purchasing an additional 5,587 shares during the period. CWM LLC boosted its position in shares of Pinterest by 91.5% during the third quarter. CWM LLC now owns 66,685 shares of the company’s stock worth $2,159,000 after purchasing an additional 31,863 shares in the last quarter. Perpetual Ltd lifted its holdings in shares of Pinterest by 218.4% in the third quarter. Perpetual Ltd now owns 35,030 shares of the company’s stock valued at $1,134,000 after purchasing an additional 24,028 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Pinterest by 500.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,200 shares of the company’s stock worth $136,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Pinterest by 52.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 12,295 shares of the company’s stock valued at $398,000 after purchasing an additional 4,223 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.