Pinterest (NYSE:PINS) Given New $47.00 Price Target at Wells Fargo & Company

Pinterest (NYSE:PINS) had its price objective raised by Wells Fargo & Company from $39.00 to $47.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently issued reports on PINS. Morgan Stanley upped their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a report on Tuesday, December 10th. Oppenheimer dropped their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. TD Cowen began coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. Finally, Robert W. Baird cut their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Pinterest has an average rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Stock Performance

Shares of PINS opened at $40.02 on Friday. The stock has a fifty day moving average price of $31.23 and a two-hundred day moving average price of $31.57. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. As a group, research analysts predict that Pinterest will post 0.59 EPS for the current fiscal year.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares in the company, valued at $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $589,131 in the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in Pinterest during the third quarter worth $153,829,000. Southpoint Capital Advisors LP acquired a new stake in Pinterest in the third quarter valued at about $123,006,000. Ontario Teachers Pension Plan Board grew its position in Pinterest by 51.5% in 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 acquiring an additional 2,996,750 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Pinterest during the fourth quarter worth about $61,261,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after acquiring an additional 2,093,248 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

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.