Pinterest, Inc. (NYSE:PINS) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Pinterest, Inc. (NYSE:PINS - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-eight research firms that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $41.65.

A number of research analysts have recently weighed in on PINS shares. TD Cowen initiated coverage on Pinterest in a research report on Tuesday, November 26th. They issued a "buy" rating and a $38.00 price target for the company. Robert W. Baird dropped their target price on shares of Pinterest from $41.00 to $36.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $41.00 price target on shares of Pinterest in a research report on Monday, October 7th. Oppenheimer cut their price objective on Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Finally, 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.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction 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 transaction, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated 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 $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,287 shares of company stock worth $1,547,820 over the last three months. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company's stock valued at $413,483,000 after buying an additional 156,748 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Pinterest by 9.5% in the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock worth $445,818,000 after acquiring an additional 880,398 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company's stock valued at $305,710,000 after purchasing an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock valued at $285,248,000 after purchasing an additional 2,996,750 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Pinterest by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock worth $262,695,000 after purchasing an additional 380,431 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Stock Performance

PINS stock remained flat at $30.32 during midday trading on Friday. The company had a trading volume of 3,510,815 shares, compared to its average volume of 13,099,546. The stock's fifty day moving average is $31.80 and its 200-day moving average is $35.35. The stock has a market capitalization of $20.49 billion, a PE ratio of 101.07, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19.

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.