Pinterest (NYSE:PINS) PT Raised to $51.00

Pinterest (NYSE:PINS) had its price objective boosted by Citigroup from $48.00 to $51.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

PINS has been the topic of several other research reports. Rosenblatt Securities reiterated a buy rating and set a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of Pinterest from $48.00 to $52.00 and gave the stock an outperform rating in a research note on Wednesday. BMO Capital Markets raised their price objective on Pinterest from $45.00 to $46.00 and gave the company an outperform rating in a research report on Wednesday. Argus upgraded Pinterest from a hold rating to a buy rating and set a $45.00 target price on the stock in a research report on Thursday, January 18th. Finally, Stifel Nicolaus raised their price target on Pinterest from $42.00 to $46.00 and gave the company a buy rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Stock Performance

PINS opened at $40.40 on Wednesday. The stock has a market cap of $27.43 billion, a price-to-earnings ratio of 192.39, a price-to-earnings-growth ratio of 5.55 and a beta of 0.99. The firm’s fifty day moving average is $34.79 and its 200 day moving average is $34.48. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. On average, equities research analysts predict that Pinterest will post 0.36 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now directly owns 31,646 shares in the company, valued at $1,055,077.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction 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 sale, the chief financial officer now directly 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 available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The disclosure for this sale can be found here. Insiders sold 164,471 shares of company stock worth $5,773,431 over the last 90 days. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Pinterest by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock worth $2,087,165,000 after acquiring an additional 1,439,595 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Pinterest by 43.9% during the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after purchasing an additional 3,390,924 shares in the last quarter. Franklin Resources Inc. increased its holdings in Pinterest by 34.0% during the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after buying an additional 2,548,925 shares during the period. Baillie Gifford & Co. raised its stake in Pinterest by 12.6% in the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after buying an additional 1,043,173 shares in the last quarter. Finally, Capital World Investors lifted its holdings in Pinterest by 0.7% during the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after buying an additional 64,270 shares during the period. 88.81% of the stock is currently owned by 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.