Pinterest (NYSE:PINS) Upgraded at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of Pinterest (NYSE:PINS - Free Report) from a neutral rating to a buy rating in a research note released on Friday, MarketBeat.com reports. They currently have $40.00 price target on the stock.

A number of other research analysts have also recently weighed in on PINS. KeyCorp dropped their price target on Pinterest from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Raymond James cut their target price on shares of Pinterest from $40.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Roth Mkm lowered their price target on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. TD Cowen began coverage on Pinterest in a research report on Tuesday, November 26th. They set a "buy" rating and a $38.00 price objective for the company. Finally, Piper Sandler cut 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. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.33.

Pinterest Trading Down 0.5 %

Shares of Pinterest stock traded down $0.15 during trading on Friday, reaching $30.72. The company's stock had a trading volume of 11,897,887 shares, compared to its average volume of 9,918,664. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a 50-day moving average price of $30.64 and a two-hundred day moving average price of $33.05. The firm has a market cap of $20.76 billion, a PE ratio of 102.40, a P/E/G ratio of 2.17 and a beta of 1.04.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated 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 sale, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 19,157 shares of company stock valued at $592,685. Insiders own 7.11% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Caprock Group LLC bought a new stake in shares of Pinterest in the 2nd quarter worth $353,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Pinterest during the 2nd quarter valued at about $52,000. Choreo LLC purchased a new position in shares of Pinterest during the second quarter valued at approximately $671,000. American Century Companies Inc. boosted its holdings in Pinterest by 57.6% in the second quarter. American Century Companies Inc. now owns 3,042,065 shares of the company's stock worth $134,064,000 after purchasing an additional 1,112,163 shares during the last quarter. Finally, Achmea Investment Management B.V. grew its position in Pinterest by 202.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 208,548 shares of the company's stock worth $9,190,000 after purchasing an additional 139,576 shares during the period. 88.81% of the stock is currently owned by 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.