Pinterest (NYSE:PINS) Sees Large Volume Increase on Analyst Upgrade

Shares of Pinterest, Inc. (NYSE:PINS) saw strong trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $38.00 to $44.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. 7,867,125 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 9,572,304 shares.The stock last traded at $39.25 and had previously closed at $33.45.

Several other research analysts have also recently weighed in on PINS. Rosenblatt Securities restated a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of Pinterest in a research report on Wednesday. Roth Mkm increased their price target on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Wedbush increased their price target on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday. Susquehanna increased their price objective on Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Finally, BMO Capital Markets started coverage on Pinterest in a research note on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $39.58.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,471 shares of company stock valued at $6,525,231. 7.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AE Wealth Management LLC increased its stake in Pinterest by 28.3% in the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock worth $327,000 after acquiring an additional 2,662 shares during the last quarter. Simplicity Solutions LLC increased its position in shares of Pinterest by 6.8% during the 3rd quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock valued at $216,000 after purchasing an additional 510 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Pinterest by 9.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 142,700 shares of the company’s stock valued at $3,857,000 after purchasing an additional 12,300 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Pinterest by 5.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock valued at $1,157,000 after acquiring an additional 2,247 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Pinterest by 4.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,215,909 shares of the company’s stock valued at $32,866,000 after acquiring an additional 46,821 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Trading Up 19.8 %

The company has a 50-day simple moving average of $34.50 and a 200 day simple moving average of $34.30. The company has a market cap of $27.20 billion, a P/E ratio of -671.72, a P/E/G ratio of 4.63 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The firm had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. On average, equities analysts forecast that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

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.