Pinterest (NYSE:PINS) Price Target Raised to $36.00

Pinterest (NYSE:PINS) had its target price upped by Morgan Stanley from $35.00 to $36.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts also recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 target price (down previously from $40.00) on shares of Pinterest in a research report on Monday. KeyCorp decreased their target price on shares of Pinterest from $39.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Rosenblatt Securities dropped their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. 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 report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and a consensus price target of $40.86.

Pinterest Price Performance

Pinterest stock opened at $30.65 on Monday. Pinterest has a one year low of $27.00 and a one year high of $45.19. The business’s fifty day moving average is $30.46 and its 200 day moving average is $32.58. The stock has a market capitalization of $20.71 billion, a PE ratio of 102.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04.

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the 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 transaction, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,007 shares of company stock valued at $554,137. 7.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest during the 3rd quarter worth approximately $153,829,000. Southpoint Capital Advisors LP bought a new stake in Pinterest in the third quarter worth $123,006,000. Ontario Teachers Pension Plan Board raised its stake in Pinterest by 51.5% during 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 in the last quarter. 1832 Asset Management L.P. bought a new position in Pinterest during the second quarter valued at $98,655,000. Finally, Nordea Investment Management AB grew its stake in shares of Pinterest by 122.1% in the 4th quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after buying an additional 2,093,248 shares in the last quarter. 88.81% of the stock is 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.