Brokerages Set Pinterest, Inc. (NYSE:PINS) Price Target at $41.65

Shares of Pinterest, Inc. (NYSE:PINS) have received an average recommendation of “Moderate Buy” from the twenty-eight analysts that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $41.65.

A number of research firms have recently commented on PINS. TD Cowen initiated coverage on shares of Pinterest in a research note on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price for the company. Robert W. Baird dropped their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. KeyCorp lowered their target price on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Rosenblatt Securities cut their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Raymond James dropped their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,287 shares of company stock valued at $1,547,820. 7.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently modified their holdings of the stock. Comerica Bank raised its position in Pinterest by 5.4% during the 1st quarter. Comerica Bank now owns 49,865 shares of the company’s stock worth $1,729,000 after buying an additional 2,561 shares during the last quarter. Virtu Financial LLC lifted its position in Pinterest by 93.7% in the first quarter. Virtu Financial LLC now owns 11,099 shares of the company’s stock valued at $385,000 after purchasing an additional 5,368 shares during the period. Swedbank AB purchased a new stake in Pinterest in the 1st quarter valued at approximately $1,714,000. Cetera Investment Advisers increased its position in Pinterest by 103.4% during the 1st quarter. Cetera Investment Advisers now owns 63,535 shares of the company’s stock worth $2,203,000 after purchasing an additional 32,305 shares during the period. Finally, Cetera Advisors LLC acquired a new stake in shares of Pinterest in the 1st quarter valued at approximately $1,175,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of PINS stock opened at $31.58 on Friday. The stock has a 50 day simple moving average of $31.78 and a 200-day simple moving average of $35.13. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19. The company has a market cap of $21.34 billion, a price-to-earnings ratio of 105.27, a PEG ratio of 2.21 and a beta of 1.02.

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.