Pinterest (NYSE:PINS) Raised to “Strong-Buy” at Wedbush

Pinterest (NYSE:PINS) was upgraded by equities research analysts at Wedbush from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also 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. KeyCorp lowered their target price on Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 price target (down from $45.00) on shares of Pinterest in a research note on Friday, November 8th. UBS Group lowered their price objective on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Evercore ISI reduced their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Price Performance

PINS opened at $30.67 on Monday. Pinterest has a one year low of $27.00 and a one year high of $45.19. The business has a 50 day simple moving average of $31.79 and a two-hundred day simple moving average of $36.34. The firm has a market capitalization of $21.05 billion, a price-to-earnings ratio of 102.24, a PEG ratio of 2.25 and a beta of 1.02.

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in Pinterest by 195.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock worth $75,000 after acquiring an additional 1,422 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Pinterest by 19.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,424 shares of the company’s stock worth $708,000 after purchasing an additional 3,371 shares during the period. Empowered Funds LLC boosted its stake in shares of Pinterest by 25.5% during the first quarter. Empowered Funds LLC now owns 7,432 shares of the company’s stock valued at $258,000 after purchasing an additional 1,510 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Pinterest by 38.0% during the first quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock valued at $21,358,000 after buying an additional 169,052 shares during the period. Finally, US Bancorp DE raised its stake in Pinterest by 2.0% in the first quarter. US Bancorp DE now owns 26,602 shares of the company’s stock worth $922,000 after buying an additional 521 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

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.