Pinterest (NYSE:PINS) Price Target Raised to $52.00 at Royal Bank of Canada

Pinterest (NYSE:PINS) had its target price upped by Royal Bank of Canada from $48.00 to $52.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently commented on PINS. Roth Mkm upped their price objective on shares of Pinterest from $38.00 to $40.00 and gave the company a neutral rating in a report on Wednesday. Stifel Nicolaus raised their price target on Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a report on Wednesday. BMO Capital Markets began coverage on shares of Pinterest in a report on Tuesday, January 9th. They set an outperform rating and a $45.00 target price on the stock. Piper Sandler upped their price objective on shares of Pinterest from $48.00 to $50.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, Benchmark restated a hold rating on shares of Pinterest in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Pinterest presently has an average rating of Moderate Buy and an average target price of $40.82.

Pinterest Stock Up 20.8 %

Shares of PINS stock opened at $40.40 on Wednesday. Pinterest has a 12-month low of $20.60 and a 12-month high of $41.60. The company has a 50 day moving average of $34.60 and a 200-day moving average of $34.40. The firm has a market cap of $27.43 billion, a P/E ratio of 192.39, a PEG ratio of 4.58 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results 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 during the quarter, compared to the consensus estimate of $988.62 million. As a group, equities analysts expect that Pinterest will post 0.36 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction dated 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 completion of 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 filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Insiders have sold 164,471 shares of company stock valued at $5,773,431 over the last ninety days. 7.11% of the stock is owned by insiders.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the stock. 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 worth $53,507,000 after acquiring an additional 872,016 shares in the last quarter. Nordea Investment Management AB raised its holdings in Pinterest by 57.9% in the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock worth $32,766,000 after purchasing an additional 323,547 shares in the last quarter. International Assets Investment Management LLC lifted its position in 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 period. Acadian Asset Management LLC lifted its position in Pinterest by 53.1% during the third quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock valued at $84,826,000 after buying an additional 1,089,299 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Pinterest by 55.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after buying an additional 62,117 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Company Profile

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.