Pinterest (NYSE:PINS) Earns “Outperform” Rating from Wedbush

Pinterest (NYSE:PINS)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They currently have a $38.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 14.35% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. KeyCorp dropped their price target on shares of Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Raymond James cut their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Robert W. Baird decreased their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $40.70.

Pinterest Price Performance

NYSE PINS opened at $33.23 on Tuesday. The stock has a market capitalization of $22.46 billion, a P/E ratio of 110.77, a P/E/G ratio of 1.61 and a beta of 1.04. 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 $30.88 and a 200 day simple moving average of $31.83.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now owns 32,536 shares in the company, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction 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 sale, the insider now directly owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $589,131 in the last quarter. 7.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in shares of Pinterest by 86.4% in the 2nd quarter. AQR Capital Management LLC now owns 320,502 shares of the company’s stock worth $14,125,000 after buying an additional 148,578 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Pinterest by 12.3% during the second quarter. The Manufacturers Life Insurance Company now owns 43,153 shares of the company’s stock valued at $1,902,000 after purchasing an additional 4,712 shares in the last quarter. Algert Global LLC purchased a new stake in Pinterest during the second quarter valued at about $463,000. Creative Planning lifted its stake in Pinterest by 27.0% during the second quarter. Creative Planning now owns 48,954 shares of the company’s stock worth $2,157,000 after purchasing an additional 10,405 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Pinterest by 300.8% in the 2nd quarter. NewEdge Advisors LLC now owns 22,811 shares of the company’s stock worth $1,005,000 after purchasing an additional 17,120 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Company Profile

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.