Pinterest (NYSE:PINS) Hits New 52-Week High After Analyst Upgrade

Shares of Pinterest, Inc. (NYSE:PINS) reached a new 52-week high on Tuesday after Loop Capital raised their price target on the stock from $43.00 to $49.00. Loop Capital currently has a buy rating on the stock. Pinterest traded as high as $41.81 and last traded at $41.61, with a volume of 2362361 shares traded. The stock had previously closed at $41.38.

PINS has been the subject of a number of other research reports. Wedbush boosted their target price on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their price objective on Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Stifel Nicolaus boosted their target price on Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Sanford C. Bernstein increased their price target on shares of Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Finally, Benchmark restated a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.26.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the firm’s 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 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 through the SEC website. In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction 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 sale, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new stake in shares of Pinterest during the 4th quarter worth $27,000. Rakuten Securities Inc. purchased a new position in shares of Pinterest in the 4th quarter worth about $30,000. Washington Trust Advisors Inc. lifted its stake in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 460 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Pinterest during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Up 1.7 %

The stock has a market cap of $29.12 billion, a PE ratio of 202.96, a price-to-earnings-growth ratio of 4.02 and a beta of 0.99. The company’s fifty day moving average is $35.16 and its 200 day moving average is $34.91.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $988.62 million. Equities analysts expect that Pinterest, Inc. will post 0.43 EPS for the current year.

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.