Pinterest's (PINS) "Outperform" Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Pinterest (NYSE:PINS - Free Report) in a research note published on Tuesday,RTT News reports. They currently have a $38.00 price target on the stock.

A number of other equities research analysts also recently weighed in on PINS. Jefferies Financial Group restated a "hold" rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Oppenheimer reduced their price objective on shares of Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Benchmark reiterated a "hold" rating on shares of Pinterest in a report on Friday, November 8th. Wells Fargo & Company dropped their target price on Pinterest from $40.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $41.00 price objective on shares of Pinterest in a research report on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.70.

Pinterest Stock Up 0.5 %

Shares of PINS traded up $0.16 during midday trading on Tuesday, reaching $33.09. 4,915,032 shares of the stock were exchanged, compared to its average volume of 10,107,754. The company has a market cap of $22.36 billion, a P/E ratio of 110.43, a PEG ratio of 1.69 and a beta of 1.04. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The stock's 50 day simple moving average is $30.88 and its 200 day simple moving average is $31.83.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 transaction, the director now owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares in the company, 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. Over the last three months, insiders have sold 19,157 shares of company stock worth $589,131. Insiders own 7.11% of the company's stock.

Hedge Funds Weigh In On Pinterest

A number of large investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in shares of Pinterest by 86.4% in the second quarter. AQR Capital Management LLC now owns 320,502 shares of the company's stock worth $14,125,000 after buying an additional 148,578 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Pinterest by 12.3% during the second quarter. The Manufacturers Life Insurance Company now owns 43,153 shares of the company's stock worth $1,902,000 after purchasing an additional 4,712 shares during the period. Algert Global LLC purchased a new position in Pinterest during the 2nd quarter valued at about $463,000. Creative Planning raised its position in Pinterest by 27.0% during the 2nd quarter. Creative Planning now owns 48,954 shares of the company's stock valued at $2,157,000 after purchasing an additional 10,405 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Pinterest by 300.8% in the 2nd quarter. NewEdge Advisors LLC now owns 22,811 shares of the company's stock worth $1,005,000 after buying an additional 17,120 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.