Pinterest (NYSE:PINS) Given New $44.00 Price Target at Wedbush

Pinterest (NYSE:PINS) had its target price boosted by Wedbush from $38.00 to $44.00 in a research report released on Wednesday morning, Marketbeat reports. Wedbush currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. Piper Sandler restated an overweight rating and issued a $48.00 target price on shares of Pinterest in a report on Tuesday, March 26th. Rosenblatt Securities reissued a buy rating and issued a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a research note on Wednesday. Evercore ISI upped their target price on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research note on Friday, January 26th. Roth Mkm increased their price target on Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a report on Friday, February 9th. Finally, BMO Capital Markets began coverage on Pinterest in a report on Tuesday, January 9th. They set an outperform rating and a $45.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Pinterest presently has an average rating of Moderate Buy and an average price target of $40.82.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $40.40 on Wednesday. The firm has a market cap of $27.43 billion, a price-to-earnings ratio of 192.39, a P/E/G ratio of 4.58 and a beta of 0.99. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The firm has a fifty day moving average price of $34.60 and a 200 day moving average price of $34.40.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 6.08% and a net margin of 4.64%. The business had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. As a group, research analysts predict that Pinterest will post 0.36 earnings per share for the current year.

Insider Activity

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the sale, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest 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 directly owns 54,215 shares in the company, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,471 shares of company stock worth $5,773,431. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC raised its position in shares of Pinterest by 152.3% in the 4th quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after purchasing an additional 872,016 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Pinterest by 57.9% during the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock worth $32,766,000 after buying an additional 323,547 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Pinterest by 3,402.0% during the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after buying an additional 77,974 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Pinterest by 53.1% in the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock valued at $84,826,000 after acquiring an additional 1,089,299 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Pinterest by 55.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after acquiring an additional 62,117 shares during the period. Hedge funds and other 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.