Pinterest (NYSE:PINS) Shares Gap Up to $32.64

Pinterest, Inc. (NYSE:PINS)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $32.64, but opened at $34.32. Pinterest shares last traded at $33.99, with a volume of 2,069,383 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PINS shares. KeyCorp reduced their target price on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Stifel Nicolaus upped their price target on shares of Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Pinterest in a research note on Friday, February 9th. Finally, 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 note on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.68.

Pinterest Stock Performance

The company’s fifty day moving average is $34.56 and its 200-day moving average is $34.19. The company has a market capitalization of $23.06 billion, a PE ratio of -565.91, a price-to-earnings-growth ratio of 4.47 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The business had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. On average, sell-side analysts expect that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the transaction, the director now directly owns 33,580 shares in the company, valued at approximately $1,145,078. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.08, for a total value of $701,600.00. Following the completion of the sale, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total value of $65,949.40. Following the completion of the sale, the director now owns 33,580 shares of the company’s stock, valued at $1,145,078. The disclosure for this sale can be found here. Insiders sold a total of 184,471 shares of company stock valued at $6,525,231 in the last three months. 6.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

A number of institutional investors have recently bought and sold shares of PINS. Norges Bank bought a new stake in shares of Pinterest during the fourth quarter worth $241,229,000. Wellington Management Group LLP lifted its position in shares of Pinterest by 1,188.9% during the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock worth $221,850,000 after purchasing an additional 5,524,796 shares during the last quarter. Fred Alger Management LLC lifted its position in shares of Pinterest by 279,496.9% during the third quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after purchasing an additional 4,670,394 shares during the last quarter. Ameriprise Financial Inc. lifted its position 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 worth $300,639,000 after purchasing an additional 3,390,924 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Pinterest by 128.2% during the first quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock worth $193,473,000 after purchasing an additional 3,134,776 shares during the last quarter. 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.