Pinterest (NYSE:PINS) Given New $38.00 Price Target at Wedbush

Pinterest (NYSE:PINS) had its price target lifted by Wedbush from $37.00 to $38.00 in a report published on Friday, MarketBeat.com reports. Wedbush currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Friday. Raymond James decreased their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Oppenheimer assumed coverage on shares of Pinterest in a research report on Tuesday, September 24th. They set an “outperform” rating and a $45.00 price objective for the company. Roth Mkm decreased their price objective on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Stock Up 4.1 %

Shares of PINS stock opened at $30.38 on Friday. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The stock has a market capitalization of $20.85 billion, a PE ratio of 101.27, a P/E/G ratio of 2.25 and a beta of 1.02. The firm has a 50 day moving average of $31.82 and a two-hundred day moving average of $36.36.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were 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 in the company, valued at $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. 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 the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by company insiders.

Institutional Trading of Pinterest

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Pinterest by 1.8% during the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after buying an additional 994,848 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock worth $445,818,000 after buying an additional 880,398 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Pinterest by 2.2% in the first 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. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Pinterest by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock valued at $262,695,000 after purchasing an additional 380,431 shares in the last quarter. Hedge funds and other 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.