Pinterest, Inc. (NYSE:PINS) Receives $41.46 Average PT from Analysts

Shares of Pinterest, Inc. (NYSE:PINS) have earned an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $41.46.

Several brokerages have commented on PINS. Oppenheimer lowered their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research report on Monday, October 7th. Piper Sandler cut Pinterest from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $41.00 to $36.00 in a research note on Tuesday, December 10th. Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research report on Tuesday, December 10th.

Pinterest Trading Down 1.4 %

NYSE:PINS opened at $29.15 on Thursday. The company has a 50-day moving average price of $30.87 and a 200-day moving average price of $33.64. The stock has a market cap of $19.70 billion, a price-to-earnings ratio of 97.17, a P/E/G ratio of 2.17 and a beta of 1.02. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $592,685 over the last three months. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in Pinterest by 664.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 16,445 shares of the company’s stock valued at $725,000 after purchasing an additional 14,294 shares during the period. Burney Co. purchased a new stake in Pinterest in the 2nd quarter worth approximately $209,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Pinterest by 14.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,974 shares of the company’s stock worth $5,419,000 after acquiring an additional 15,843 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Pinterest during the second quarter valued at approximately $258,000. Finally, UMB Bank n.a. boosted its position in shares of Pinterest by 337.8% in the second quarter. UMB Bank n.a. now owns 2,303 shares of the company’s stock worth $101,000 after purchasing an additional 1,777 shares during the period. 88.81% of the stock is currently owned by institutional investors.

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.