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

Shares of Pinterest, Inc. (NYSE:PINS) have been given an average rating of “Moderate Buy” by the twenty-eight research firms that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $41.46.

A number of equities research analysts recently commented on the stock. Robert W. Baird lowered their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Oppenheimer dropped their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Rosenblatt Securities cut their price target on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. KeyCorp lowered their price objective on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pinterest in a research note on Monday, September 23rd. They issued a “buy” rating and a $43.00 target price for the company.

Pinterest Stock Performance

Shares of PINS stock opened at $29.15 on Thursday. The firm has a market cap of $19.70 billion, a price-to-earnings ratio of 97.17, a P/E/G 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’s 50-day simple moving average is $30.87 and its two-hundred day simple moving average is $33.64.

Insider Buying and Selling

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

Institutional Trading of Pinterest

A number of institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in Pinterest in the 3rd quarter worth $87,000. Sanctuary Advisors LLC grew its stake in shares of Pinterest by 42.2% in the third quarter. Sanctuary Advisors LLC now owns 124,353 shares of the company’s stock worth $3,733,000 after purchasing an additional 36,925 shares during the last quarter. TCW Group Inc. increased its holdings in Pinterest by 14.6% during the 3rd quarter. TCW Group Inc. now owns 690,082 shares of the company’s stock valued at $22,338,000 after purchasing an additional 88,086 shares during the period. Toronto Dominion Bank raised its position in Pinterest by 36.7% during the 3rd quarter. Toronto Dominion Bank now owns 77,842 shares of the company’s stock valued at $2,520,000 after purchasing an additional 20,881 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after purchasing an additional 76,920 shares during the last quarter. Hedge funds and other 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.