Pinterest (NYSE:PINS) had its price target hoisted by Loop Capital from $44.00 to $80.00 in a research report report published on Thursday, The Fly reports.
Other research analysts also recently issued research reports about the company. KeyCorp lifted their price target on Pinterest from $44.00 to $60.00 and gave the stock an overweight rating in a research note on Monday, October 26th. Barclays lifted their price target on Pinterest from $32.00 to $66.00 in a research note on Thursday, October 29th. Bank of America reaffirmed a buy rating and set a $72.00 price target (up previously from $58.00) on shares of Pinterest in a research note on Thursday, October 29th. Credit Suisse Group lifted their price target on Pinterest from $36.00 to $66.00 and gave the stock a neutral rating in a research note on Thursday, October 29th. Finally, JPMorgan Chase & Co. upgraded Pinterest from a neutral rating to an overweight rating and lifted their price objective for the stock from $57.00 to $75.00 in a research report on Thursday, October 29th. Eleven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $55.44.
Pinterest stock opened at $66.85 on Thursday. Pinterest has a one year low of $10.10 and a one year high of $68.93. The business has a fifty day moving average of $52.88 and a two-hundred day moving average of $34.09. The company has a market cap of $41.32 billion, a P/E ratio of -94.15 and a beta of 1.72.
In other Pinterest news, CFO Todd R. Morgenfeld sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $34.31, for a total value of $1,887,050.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Tseli Lily Yang sold 1,269 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $34.43, for a total value of $43,691.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,473,193 shares of company stock worth $196,307,088.
Hedge funds and other institutional investors have recently modified their holdings of the company. Sonora Investment Management LLC bought a new stake in shares of Pinterest in the 3rd quarter valued at approximately $25,000. Exchange Traded Concepts LLC increased its holdings in shares of Pinterest by 488.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 635 shares of the company’s stock valued at $26,000 after acquiring an additional 527 shares during the last quarter. Adams Wealth Management bought a new stake in shares of Pinterest in the 3rd quarter valued at approximately $33,000. BNC Wealth Management LLC bought a new stake in shares of Pinterest in the 3rd quarter valued at approximately $36,000. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of Pinterest by 152.2% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,135 shares of the company’s stock valued at $25,000 after acquiring an additional 685 shares during the last quarter. Institutional investors and hedge funds own 54.51% of the company’s stock.
Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, home and style ideas, travel destinations, and others. It shows them visual recommendations based on people personal taste and interests.
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