Pinterest, Inc. (NYSE:PINS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pinterest, Inc. (NYSE:PINS) has received an average recommendation of “Moderate Buy” from the twenty-nine brokerages that are presently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $40.70.

A number of research firms have weighed in on PINS. JPMorgan Chase & Co. lowered their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Roth Mkm dropped their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Morgan Stanley raised their target price on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. KeyCorp decreased their price target on Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, January 10th.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the business’s 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 $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock valued at $589,131 over the last quarter. 7.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

Several large investors have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after buying an additional 156,748 shares during the last quarter. Geode Capital Management LLC lifted its position in Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after acquiring an additional 76,920 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in shares of Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Pinterest by 8.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Pinterest during the third quarter worth $153,829,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of Pinterest stock opened at $32.92 on Monday. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19. The stock has a market cap of $22.25 billion, a P/E ratio of 109.72, a P/E/G ratio of 1.61 and a beta of 1.04. The stock’s 50 day simple moving average is $30.64 and its 200-day simple moving average is $31.94.

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.