Pinterest, Inc. (NYSE:PINS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Pinterest, Inc. (NYSE:PINS) has received an average recommendation of “Moderate Buy” from the thirty-one research firms that are presently covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $38.9655.

A number of research analysts recently commented on PINS shares. Mizuho assumed coverage on Pinterest in a report on Monday, September 29th. They issued an “outperform” rating and a $50.00 price target for the company. Citigroup reaffirmed a “buy” rating on shares of Pinterest in a research report on Wednesday, November 5th. Morgan Stanley decreased their price target on shares of Pinterest from $41.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Wells Fargo & Company dropped their price target on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Bank of America reduced their price objective on shares of Pinterest from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th.

Insider Buying and Selling

In related news, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the transaction, the chief financial officer directly owned 312,422 shares in the company, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 301,042 shares of company stock worth $10,087,667. Corporate insiders own 7.06% of the company’s stock.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Group LLC grew its stake in shares of Pinterest by 4.5% in the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock valued at $36,548,000 after purchasing an additional 43,541 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Pinterest by 243.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after buying an additional 49,204 shares during the period. KLP Kapitalforvaltning AS boosted its stake in Pinterest by 8.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock valued at $14,781,000 after buying an additional 30,500 shares in the last quarter. Norges Bank bought a new stake in Pinterest in the second quarter valued at $477,853,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Pinterest by 101.2% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock valued at $3,875,000 after acquiring an additional 54,365 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Trading Up 2.3%

PINS opened at $27.81 on Thursday. Pinterest has a twelve month low of $23.68 and a twelve month high of $40.90. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 1.72 and a beta of 0.89. The company has a fifty day simple moving average of $29.42 and a 200 day simple moving average of $33.41.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The company had revenue of $665.93 million during the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. On average, analysts forecast that Pinterest will post 0.6 earnings per share for the current fiscal year.

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.