Pinterest (NYSE:PINS) Upgraded to “Buy” at Monness Crespi & Hardt

Pinterest (NYSE:PINS) was upgraded by investment analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a report released on Friday,Briefing.com Automated Import reports. The firm presently has a $40.00 price target on the stock. Monness Crespi & Hardt’s price target suggests a potential upside of 29.70% from the stock’s current price.

PINS has been the subject of a number of other reports. Raymond James lowered their price target on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target on the stock. Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Rosenblatt Securities decreased their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.41.

Pinterest Stock Down 3.0 %

NYSE:PINS opened at $30.84 on Friday. The stock’s fifty day simple moving average is $30.64 and its 200-day simple moving average is $33.05. The firm has a market capitalization of $20.84 billion, a P/E ratio of 102.80, a P/E/G ratio of 2.17 and a beta of 1.04. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction dated 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 directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,157 shares of company stock valued at $592,685. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Shipley& Co Ltd bought a new position in Pinterest in the 2nd quarter valued at about $25,000. GAMMA Investing LLC increased its stake in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. V Square Quantitative Management LLC acquired a new stake in Pinterest during the 3rd quarter worth approximately $37,000. Crewe Advisors LLC boosted 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 purchasing an additional 550 shares during the period. Finally, True Wealth Design LLC grew its holdings in Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

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.