Pinterest (NYSE:PINS) Price Target Raised to $51.00

Pinterest (NYSE:PINS) had its price target boosted by Citigroup from $48.00 to $51.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

PINS has been the subject of a number of other research reports. Argus raised shares of Pinterest from a hold rating to a buy rating and set a $45.00 price objective for the company in a report on Thursday, January 18th. Benchmark reaffirmed a hold rating on shares of Pinterest in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a research report on Wednesday. Royal Bank of Canada increased their target price on Pinterest from $48.00 to $52.00 and gave the company an outperform rating in a research report on Wednesday. Finally, Sanford C. Bernstein boosted their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock a market perform rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Stock Performance

NYSE PINS opened at $40.41 on Wednesday. The firm has a market capitalization of $27.44 billion, a P/E ratio of 192.44, a PEG ratio of 4.64 and a beta of 0.99. The stock has a 50-day simple moving average of $34.79 and a two-hundred day simple moving average of $34.53. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, analysts forecast that Pinterest will post 0.43 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the 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 transaction, the director now directly owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,471 shares of company stock worth $5,773,431. Company insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Institutional investors and hedge funds have recently modified their holdings of the company. AE Wealth Management LLC grew its position in Pinterest by 28.3% in the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock valued at $327,000 after acquiring an additional 2,662 shares in the last quarter. Simplicity Solutions LLC grew its holdings in shares of Pinterest by 6.8% in the third quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock valued at $216,000 after purchasing an additional 510 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Pinterest by 9.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 142,700 shares of the company’s stock worth $3,857,000 after buying an additional 12,300 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Pinterest by 5.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock worth $1,157,000 after buying an additional 2,247 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Pinterest by 4.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,215,909 shares of the company’s stock valued at $32,866,000 after buying an additional 46,821 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.