Pinterest (NYSE:PINS) Given Buy Rating at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Pinterest (NYSE:PINS) in a research report released on Friday,Benzinga reports. The brokerage currently has a $50.00 price objective on the stock, up from their previous price objective of $45.00.

A number of other equities analysts have also weighed in on the company. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $34.00 to $47.00 in a research note on Friday. Piper Sandler restated a “neutral” rating and issued a $41.00 price objective (up from $36.00) on shares of Pinterest in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Rosenblatt Securities lifted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Pinterest Stock Up 19.1 %

Shares of PINS opened at $40.02 on Friday. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The stock has a market cap of $27.04 billion, a PE ratio of 133.39, a P/E/G ratio of 1.68 and a beta of 1.06. The business’s 50-day moving average price is $31.23 and its 200-day moving average price is $31.57.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.37% and a net margin of 6.21%. Analysts expect that Pinterest will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’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 directly owns 246,921 shares in the company, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Cetera Investment Advisers raised its position in Pinterest by 8.8% in the 2nd quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock worth $3,046,000 after buying an additional 5,587 shares during the last quarter. CWM LLC boosted its holdings in Pinterest by 91.5% in the third quarter. CWM LLC now owns 66,685 shares of the company’s stock worth $2,159,000 after purchasing an additional 31,863 shares during the last quarter. Perpetual Ltd grew its position in Pinterest by 218.4% in the 3rd quarter. Perpetual Ltd now owns 35,030 shares of the company’s stock worth $1,134,000 after purchasing an additional 24,028 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Pinterest by 500.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,200 shares of the company’s stock valued at $136,000 after buying an additional 3,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Pinterest by 52.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 12,295 shares of the company’s stock valued at $398,000 after buying an additional 4,223 shares during the period. 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.