Pinterest (NYSE:PINS) PT Raised to $45.00

Pinterest (NYSE:PINS) had its price target boosted by KeyCorp from $43.00 to $45.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

PINS has been the subject of a number of other reports. Susquehanna lowered their price target on shares of Pinterest from $50.00 to $45.00 and set a positive rating for the company in a report on Wednesday, July 31st. Barclays cut their price target on Pinterest from $38.00 to $36.00 and set an equal weight rating on the stock in a research note on Wednesday, July 31st. Benchmark restated a hold rating on shares of Pinterest in a research note on Wednesday, July 31st. UBS Group cut their target price on Pinterest from $57.00 to $52.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Finally, Wedbush decreased their price target on shares of Pinterest from $46.00 to $37.00 and set a neutral rating for the company in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $43.32.

Pinterest Trading Up 1.2 %

Shares of NYSE PINS opened at $34.15 on Wednesday. The stock has a fifty day moving average price of $31.05 and a 200 day moving average price of $36.53. Pinterest has a 12-month low of $23.59 and a 12-month high of $45.19. The company has a market cap of $23.33 billion, a P/E ratio of 162.62, a P/E/G ratio of 2.61 and a beta of 1.01.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company’s revenue was up 20.6% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. On average, sell-side analysts forecast that Pinterest will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Vanguard Group Inc. increased its position in shares of Pinterest by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after purchasing an additional 994,848 shares during the period. Baillie Gifford & Co. lifted its holdings in Pinterest by 9.5% in the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after acquiring an additional 880,398 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Pinterest by 2.2% during the 1st quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock valued at $283,592,000 after purchasing an additional 176,540 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Pinterest by 1,188.9% in the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock worth $221,850,000 after purchasing an additional 5,524,796 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Pinterest by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock worth $262,695,000 after purchasing an additional 380,431 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

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.