Shares of Pinterest, Inc. (NYSE:PINS – Get Free Report) hit a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $48.00 to $49.00. Wells Fargo & Company currently has an overweight rating on the stock. Pinterest traded as high as $45.17 and last traded at $45.12, with a volume of 6084045 shares trading hands. The stock had previously closed at $43.12.
Several other brokerages have also recently weighed in on PINS. Piper Sandler reaffirmed an “overweight” rating and set a $52.00 target price on shares of Pinterest in a research note on Friday, June 14th. JPMorgan Chase & Co. increased their price target on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their price target on Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Sanford C. Bernstein increased their price target on Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.37.
View Our Latest Research Report on PINS
Insider Transactions at Pinterest
In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the transaction, the insider now directly owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the transaction, the insider now directly owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $35.08, for a total value of $701,600.00. Following the completion of the transaction, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The disclosure for this sale can be found here. Insiders sold 41,904 shares of company stock valued at $1,613,557 in the last three months. Corporate insiders own 7.11% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC grew its holdings in Pinterest by 152.3% in the 4th quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after buying an additional 872,016 shares during the last quarter. Nordea Investment Management AB grew its holdings in Pinterest by 57.9% in the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after buying an additional 323,547 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after buying an additional 77,974 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Pinterest by 55.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after buying an additional 62,117 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Pinterest by 48.5% in the 4th quarter. Raymond James Trust N.A. now owns 27,686 shares of the company’s stock valued at $1,025,000 after buying an additional 9,040 shares during the last quarter. 88.81% of the stock is owned by institutional investors.
Pinterest Trading Up 4.3 %
The stock has a market cap of $30.72 billion, a price-to-earnings ratio of 214.15, a price-to-earnings-growth ratio of 4.28 and a beta of 0.97. The stock has a fifty day simple moving average of $40.54 and a 200-day simple moving average of $37.72.
Pinterest (NYSE:PINS – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.05. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Sell-side analysts forecast that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.
Pinterest Company Profile
(Get Free Report)
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.
Featured Stories
Receive News & Ratings for Pinterest Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Pinterest and related companies with MarketBeat.com’s FREE daily email newsletter.
