Rosenblatt Securities Boosts Pinterest (NYSE:PINS) Price Target to $51.00

Pinterest (NYSE:PINS) had its price target raised by Rosenblatt Securities from $46.00 to $51.00 in a report released on Friday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other analysts have also commented on PINS. Wells Fargo & Company reduced their price target on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. KeyCorp lowered their price target on Pinterest from $39.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $47.00 in a research report on Friday. Piper Sandler cut shares of Pinterest from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $41.00 to $36.00 in a research report on Tuesday, December 10th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Pinterest in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Stock Up 19.1 %

PINS opened at $40.02 on Friday. The company has a market cap 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 52-week low of $27.00 and a 52-week high of $45.19. The firm’s fifty day simple moving average is $31.23 and its two-hundred day simple moving average is $31.57.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. On average, research analysts forecast that Pinterest will post 0.59 EPS for the current year.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, November 20th. The shares were 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. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new stake in shares of Pinterest during the 4th quarter worth $28,000. GAMMA Investing LLC raised its stake in shares of Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Pinterest in the 3rd quarter worth about $37,000. Crewe Advisors LLC grew its stake in Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after acquiring an additional 1,487 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.