Pinterest (NYSE:PINS) Given Buy Rating at Guggenheim

Pinterest (NYSE:PINS - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Guggenheim in a report released on Tuesday,Benzinga reports.

A number of other equities analysts have also commented on PINS. Raymond James increased their price target on Pinterest from $34.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Monness Crespi & Hardt upgraded Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Friday, January 10th. Oppenheimer boosted their price target on shares of Pinterest from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Piper Sandler reiterated a "neutral" rating and set a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, Benchmark raised shares of Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Pinterest Stock Performance

PINS traded down $1.73 during trading on Tuesday, reaching $25.78. 22,729,308 shares of the company traded hands, compared to its average volume of 10,226,720. The company has a market cap of $17.49 billion, a P/E ratio of 9.58, a PEG ratio of 1.95 and a beta of 0.99. Pinterest has a 12-month low of $24.91 and a 12-month high of $45.19. The firm has a fifty day simple moving average of $34.40 and a 200 day simple moving average of $32.38.

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Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, sell-side analysts expect that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now directly owns 29,086 shares of the company's stock, valued at approximately $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the completion of the sale, the director now directly owns 6,274 shares of the company's stock, valued at $195,497.84. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock worth $14,832,336 in the last three months. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors have recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in shares of Pinterest during the 4th quarter worth approximately $28,000. GAMMA Investing LLC lifted 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 purchasing an additional 415 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock worth $44,000 after purchasing an additional 1,204 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company's stock worth $50,000 after purchasing an additional 590 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in Pinterest by 484.1% in the 4th quarter. Huntington National Bank now owns 2,027 shares of the company's stock worth $59,000 after buying an additional 1,680 shares during the last quarter. 88.81% of the stock is 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.