Pinterest (NYSE:PINS) Price Target Raised to $44.00

Pinterest (NYSE:PINS) had its price objective increased by research analysts at Wedbush from $38.00 to $44.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s target price indicates a potential upside of 9.15% from the company’s current price.

PINS has been the subject of several other research reports. Susquehanna raised their price target on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Royal Bank of Canada upped their price target on shares of Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Argus raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Thursday, January 18th. Evercore ISI upped their price target on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.35.

Pinterest Stock Up 20.5 %

NYSE PINS traded up $6.86 on Wednesday, reaching $40.31. The company had a trading volume of 16,765,144 shares, compared to its average volume of 9,668,962. The firm’s 50 day moving average price is $34.50 and its 200 day moving average price is $34.30. Pinterest has a 12 month low of $20.60 and a 12 month high of $41.60. The stock has a market capitalization of $27.37 billion, a PE ratio of -664.89, a price-to-earnings-growth ratio of 4.63 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. On average, research analysts expect that Pinterest will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the sale, the director now directly owns 74,215 shares of the company’s stock, valued at approximately $2,789,741.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the sale, the director now directly owns 74,215 shares of the company’s stock, valued at approximately $2,789,741.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 184,471 shares of company stock valued at $6,525,231 over the last three months. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in Pinterest during the fourth quarter valued at $27,000. Rakuten Securities Inc. purchased a new stake in shares of Pinterest during the 4th quarter worth about $30,000. Washington Trust Advisors Inc. increased its holdings in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the last quarter. Clear Street Markets LLC acquired a new stake in shares of Pinterest in the third quarter worth $41,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Pinterest in the 4th quarter valued at $43,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.