Pinterest (NYSE:PINS) PT Raised to $48.00

Pinterest (NYSE:PINS) had its price objective increased by Wells Fargo & Company from $47.00 to $48.00 in a report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also commented on PINS. KeyCorp decreased their target price on shares of Pinterest from $48.00 to $40.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. BMO Capital Markets raised their target price on shares of Pinterest from $45.00 to $46.00 and gave the company an outperform rating in a report on Wednesday. Citigroup lifted their price target on shares of Pinterest from $48.00 to $51.00 and gave the company a buy rating in a report on Wednesday. Roth Mkm lifted their price target on shares of Pinterest from $38.00 to $40.00 and gave the company a neutral rating in a report on Wednesday. Finally, Royal Bank of Canada lifted their price target on shares of Pinterest from $48.00 to $52.00 and gave the company an outperform rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Pinterest presently has a consensus rating of Moderate Buy and an average target price of $40.82.

Pinterest Stock Up 20.8 %

PINS stock opened at $40.40 on Wednesday. Pinterest has a 12 month low of $20.60 and a 12 month high of $41.60. The firm has a market cap of $27.43 billion, a P/E ratio of 192.39, a P/E/G ratio of 4.58 and a beta of 0.99. The company’s 50-day moving average price is $34.60 and its two-hundred day moving average price is $34.40.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 6.08%. The firm had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Equities analysts predict that Pinterest will post 0.36 EPS for the current year.

Insider Transactions at Pinterest

In other news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the transaction, the director now owns 54,215 shares in the company, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,471 shares of company stock worth $5,773,431. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Pinterest by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock valued at $2,087,165,000 after acquiring an additional 1,439,595 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after acquiring an additional 3,390,924 shares during the period. Franklin Resources Inc. lifted its position in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after acquiring an additional 2,548,925 shares during the period. Baillie Gifford & Co. lifted its position in shares of Pinterest by 12.6% during the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock valued at $344,685,000 after acquiring an additional 1,043,173 shares during the period. Finally, Capital World Investors lifted its position in shares of Pinterest by 0.7% during the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after acquiring an additional 64,270 shares during the period. Institutional investors and hedge funds 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.