Pinterest (NYSE:PINS) Price Target Raised to $47.00 at Wells Fargo & Company

Pinterest (NYSE:PINS) had its price target lifted by Wells Fargo & Company from $39.00 to $47.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. KeyCorp lowered their price target on Pinterest from $39.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Friday. Robert W. Baird decreased their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research note on Tuesday, December 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $41.00 price target (up from $36.00) on shares of Pinterest in a research report on Friday. Eight research 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, Pinterest currently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

Pinterest Trading Up 19.1 %

NYSE:PINS opened at $40.02 on Friday. The firm has a 50-day moving average price of $31.23 and a two-hundred day moving average price of $31.57. The company has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. On average, equities research analysts predict that Pinterest will post 0.59 earnings per share for the current year.

Insider Transactions at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $589,131 over the last three months. 7.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds and other institutional investors have recently made changes to their positions in the business. Maverick Capital Ltd. lifted its stake in shares of Pinterest by 47.6% in the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after buying an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Pinterest by 8.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after purchasing an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Pinterest by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after purchasing an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after buying an additional 87,041 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after buying an additional 68,096 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

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.