Pinterest’s (PINS) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Pinterest (NYSE:PINS) in a report issued on Tuesday morning,Benzinga reports. They currently have a $48.00 price target on the stock.

A number of other research analysts have also commented on PINS. KeyCorp cut their price target on Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Rosenblatt Securities cut their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Oppenheimer cut their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, TD Cowen began coverage on Pinterest in a research note on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.46.

Pinterest Stock Down 3.7 %

Shares of PINS stock opened at $31.83 on Tuesday. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The firm has a market cap of $21.51 billion, a PE ratio of 106.10, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02. The stock has a 50 day moving average of $31.77 and a 200-day moving average of $34.84.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. This trade represents a 9.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,287 shares of company stock worth $1,547,820. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Maverick Capital Ltd. boosted its stake in shares of Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after purchasing an additional 18,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Pinterest by 8.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after acquiring an additional 119,367 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after acquiring an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after acquiring an additional 87,041 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after acquiring an additional 68,096 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

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.