Morgan Stanley Boosts Pinterest (NYSE:PINS) Price Target to $36.00

Pinterest (NYSE:PINS - Free Report) had its price objective upped by Morgan Stanley from $35.00 to $36.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

PINS has been the subject of several other research reports. Piper Sandler lowered Pinterest from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $41.00 to $36.00 in a report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $38.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. Raymond James dropped their price objective on shares of Pinterest from $40.00 to $34.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Roth Mkm reduced their target price on Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a research note on Friday, November 8th. Finally, Oppenheimer cut their price objective on Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.86.

Pinterest Trading Down 0.8 %

Shares of Pinterest stock traded down $0.24 during trading on Monday, hitting $30.42. The stock had a trading volume of 11,012,268 shares, compared to its average volume of 10,075,351. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The firm has a market cap of $20.56 billion, a price-to-earnings ratio of 101.40, a P/E/G ratio of 2.17 and a beta of 1.04. The business's 50-day moving average is $30.61 and its 200 day moving average is $32.80.

Insider Buying and Selling

In related news, CAO Andrea Acosta sold 3,845 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 in the company, valued at $7,610,105.22. The trade was 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 $592,685 in the last three months. Insiders own 7.11% of the company's stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest during the 2nd quarter valued at $25,000. GAMMA Investing LLC raised its holdings in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after acquiring an additional 415 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Pinterest in the third quarter valued at about $37,000. Crewe Advisors LLC boosted its stake in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company's stock worth $37,000 after acquiring an additional 550 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Pinterest during the second quarter worth about $52,000. 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.