Pinterest (NYSE:PINS – Free Report) had its price target lifted by JPMorgan Chase & Co. from $34.00 to $38.00 in a report published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.
Other research analysts have also recently issued research reports about the company. KeyCorp lifted their target price on Pinterest from $37.00 to $48.00 and gave the company an overweight rating in a research report on Monday, February 5th. Roth Mkm lifted their target price on Pinterest from $37.00 to $38.00 and gave the company a neutral rating in a research report on Friday. Bank of America upgraded Pinterest from a neutral rating to a buy rating and lifted their target price for the company from $32.00 to $37.00 in a research report on Tuesday, October 31st. Royal Bank of Canada lifted their target price on Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research report on Friday. Finally, Susquehanna lifted their price target on Pinterest from $35.00 to $45.00 and gave the company a positive rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $37.52.
Pinterest Stock Performance
Insider Activity at Pinterest
In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $37.95, for a total transaction of $73,395.30. Following the completion of the transaction, the director now directly owns 39,382 shares of the company’s stock, valued at approximately $1,494,546.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $37.95, for a total transaction of $73,395.30. Following the transaction, the director now owns 39,382 shares in the company, valued at $1,494,546.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now directly owns 74,215 shares in the company, valued at $2,789,741.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,737 shares of company stock worth $2,826,987. 6.85% of the stock is owned by insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Cohanzick Management LLC acquired a new position in Pinterest during the first quarter worth $25,000. GAMMA Investing LLC acquired a new position in Pinterest during the fourth quarter worth $27,000. Massmutual Trust Co. FSB ADV boosted its holdings in Pinterest by 1,093.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,098 shares of the company’s stock worth $30,000 after purchasing an additional 1,006 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Pinterest during the fourth quarter worth $30,000. Finally, Washington Trust Advisors Inc. boosted its holdings in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the last quarter. Institutional investors and hedge funds own 72.63% of the company’s stock.
Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.
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