Pinterest, Inc. (NYSE:PINS) Given Average Rating of “Moderate Buy” by Brokerages

Pinterest, Inc. (NYSE:PINS) has received a consensus rating of “Moderate Buy” from the twenty-nine ratings firms that are presently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $40.70.

Several brokerages have recently weighed in on PINS. Piper Sandler downgraded shares of Pinterest from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $36.00 in a report on Tuesday, December 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Tuesday, December 10th. KeyCorp lowered their target price on shares of Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Finally, Oppenheimer lowered their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 8th.

Pinterest Stock Performance

Shares of Pinterest stock opened at $32.92 on Monday. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market capitalization of $22.25 billion, a P/E ratio of 109.72, a PEG ratio of 1.61 and a beta of 1.04. The company’s fifty day moving average is $30.64 and its two-hundred day moving average is $32.09.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $589,131 over the last ninety days. 7.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in Pinterest in the third quarter valued at $153,829,000. Southpoint Capital Advisors LP acquired a new stake in Pinterest in the third quarter valued at $123,006,000. Ontario Teachers Pension Plan Board raised its holdings in Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after acquiring an additional 2,996,750 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Pinterest during the second quarter worth $98,655,000. Finally, Nordea Investment Management AB raised its holdings in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after purchasing an additional 2,093,248 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.