Pinterest (NYSE:PINS) Price Target Increased to $44.00 by Analysts at JPMorgan Chase & Co.

Pinterest (NYSE:PINS) had its price target hoisted by JPMorgan Chase & Co. from $38.00 to $44.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently issued reports on PINS. Roth Mkm raised their price objective on Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a report on Friday, February 9th. Wedbush raised their price target on Pinterest from $38.00 to $44.00 and gave the stock a neutral rating in a research note on Wednesday. BMO Capital Markets initiated coverage on shares of Pinterest in a research note on Tuesday, January 9th. They set an outperform rating and a $45.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a report on Wednesday. Finally, Susquehanna boosted their target price on shares of Pinterest from $35.00 to $45.00 and gave the company a positive rating in a report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $40.82.

Pinterest Trading Down 0.2 %

Pinterest stock opened at $40.41 on Wednesday. The stock has a market cap of $27.44 billion, a PE ratio of 192.44, a P/E/G ratio of 4.64 and a beta of 0.99. The stock has a 50-day moving average price of $34.79 and a 200 day moving average price of $34.53. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60.

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

Insider Transactions at Pinterest

In related news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently modified their holdings of PINS. Vanguard Group Inc. grew its position in shares of Pinterest by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock valued at $2,087,165,000 after buying an additional 1,439,595 shares during the last quarter. Ameriprise Financial Inc. grew its holdings 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 during the last quarter. Franklin Resources Inc. raised its position in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after purchasing an additional 2,548,925 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Pinterest by 12.6% in the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after purchasing an additional 1,043,173 shares during the last quarter. Finally, Capital World Investors boosted its position in Pinterest by 0.7% during the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after purchasing an additional 64,270 shares during the period. 88.81% of the stock is 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.