Pinterest (NYSE:PINS) Raised to Buy at Monness Crespi & Hardt

Pinterest (NYSE:PINS) was upgraded by equities research analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm presently has a $40.00 price objective on the stock. Monness Crespi & Hardt’s price objective points to a potential upside of 30.21% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Raymond James lowered their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. Rosenblatt Securities reduced their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Roth Mkm dropped their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, UBS Group reduced their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.33.

Pinterest Stock Down 0.5 %

Pinterest stock opened at $30.72 on Friday. The stock has a market cap of $20.76 billion, a price-to-earnings ratio of 102.40, a P/E/G ratio of 2.17 and a beta of 1.04. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19. The business’s 50-day simple moving average is $30.61 and its 200 day simple moving average is $32.88.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the completion of the transaction, the director now directly owns 31,386 shares of the company’s stock, valued at approximately $972,338.28. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock valued at $592,685 in the last quarter. 7.11% of the stock is currently owned by insiders.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Shipley& Co Ltd bought a new position in shares of Pinterest in the 2nd quarter valued at about $25,000. GAMMA Investing LLC lifted its stake in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Pinterest during the third quarter worth about $37,000. Crewe Advisors LLC increased its position in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the last quarter. Finally, True Wealth Design LLC raised its stake in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the period. 88.81% of the stock is 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.