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

Shares of Pinterest, Inc. (NYSE:PINS) have been given a consensus rating of “Moderate Buy” by the twenty-eight analysts that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $41.65.

Several research analysts have recently commented on PINS shares. JPMorgan Chase & Co. dropped their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Roth Mkm decreased their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $30.32 on Friday. The company has a market cap of $20.49 billion, a PE ratio of 101.07, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a 50 day simple moving average of $31.80 and a 200 day simple moving average of $35.39.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,287 shares of company stock valued at $1,547,820 in the last three months. 7.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds and other institutional investors have recently modified their holdings of PINS. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest during the second quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest during the second quarter valued at about $26,000. Hexagon Capital Partners LLC increased its position in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Pinterest in the second quarter worth approximately $35,000. 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.