Pinterest (NYSE:PINS) Receives Hold Rating from Jefferies Financial Group

Pinterest (NYSE:PINS)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Financial Group in a report issued on Monday, Marketbeat Ratings reports. They currently have a $32.00 price target on the stock, down from their previous price target of $40.00. Jefferies Financial Group’s price objective suggests a potential upside of 4.17% from the company’s previous close.

A number of other analysts also recently commented on PINS. TD Cowen assumed coverage on Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective for the company. Rosenblatt Securities decreased their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Roth Mkm cut their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Robert W. Baird lowered their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.00.

Pinterest Stock Performance

Pinterest stock opened at $30.72 on Monday. The company has a market cap of $20.76 billion, a price-to-earnings ratio of 102.40, a PEG ratio of 2.17 and a beta of 1.04. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The firm has a 50 day moving average price of $30.61 and a 200 day moving average price of $32.80.

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction dated 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 owns 246,921 shares in the company, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the sale, the director now directly owns 31,386 shares in the company, valued at approximately $972,338.28. This trade represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock worth $592,685 in the last 90 days. 7.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in Pinterest by 1.2% in the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares during the period. Geode Capital Management LLC raised its position in shares of Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after buying an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in shares of Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Pinterest in the third quarter valued at approximately $153,829,000. 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.