Pinterest’s (PINS) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Pinterest (NYSE:PINS) in a research report sent to investors on Tuesday,RTT News reports. Wedbush currently has a $38.00 price objective on the stock.

Several other research firms also recently issued reports on PINS. Morgan Stanley boosted their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. TD Cowen began coverage on shares of Pinterest in a research note on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective for the company. UBS Group decreased their target price on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.70.

Pinterest Trading Down 1.5 %

PINS opened at $32.97 on Tuesday. The stock’s fifty day simple moving average is $30.80 and its 200 day simple moving average is $31.82. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19. The stock has a market cap of $22.28 billion, a PE ratio of 109.89, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the transaction, the director now 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 through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction 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 transaction, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock valued at $589,131 over the last three months. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several institutional investors have recently added to or reduced their stakes in PINS. Sequoia Financial Advisors LLC grew 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 in the last quarter. Hantz Financial Services Inc. grew its stake in Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares during the period. Leibman Financial Services Inc. lifted its holdings in shares of Pinterest by 1.2% in the 3rd quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock worth $1,028,000 after buying an additional 368 shares during the period. Finally, Commerce Bank grew its position in shares of Pinterest by 3.3% during the 3rd quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after buying an additional 378 shares in the last quarter. 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.