Pinterest (NYSE:PINS) Stock Rating Upgraded by Wedbush

Wedbush upgraded shares of Pinterest (NYSE:PINS - Free Report) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

PINS has been the subject of several other reports. Piper Sandler reaffirmed an "overweight" rating and set a $41.00 price objective (down from $45.00) on shares of Pinterest in a research note on Friday. Barclays cut their price target on shares of Pinterest from $38.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 31st. Rosenblatt Securities cut their price target on shares of Pinterest from $48.00 to $46.00 and set a "buy" rating on the stock in a report on Friday. UBS Group lowered their price objective on shares of Pinterest from $52.00 to $46.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Wolfe Research started coverage on shares of Pinterest in a research report on Tuesday, July 16th. They set a "peer perform" rating on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Pinterest Stock Up 0.4 %

Shares of NYSE:PINS traded up $0.11 during midday trading on Monday, hitting $30.50. 5,172,934 shares of the stock traded hands, compared to its average volume of 9,546,556. The stock has a market capitalization of $20.93 billion, a PE ratio of 102.24, a P/E/G ratio of 2.25 and a beta of 1.02. The business's 50 day moving average is $31.79 and its two-hundred day moving average is $36.34. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company's stock, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now owns 297,351 shares of the company's stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company's stock.

Institutional Investors Weigh In On Pinterest

Several large investors have recently modified their holdings of PINS. Vanguard Group Inc. lifted its position in Pinterest by 1.8% during the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company's stock valued at $1,988,110,000 after acquiring an additional 994,848 shares during the last quarter. Baillie Gifford & Co. raised its holdings 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 buying an additional 880,398 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock worth $285,248,000 after buying an additional 2,996,750 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Pinterest by 2.2% in the first quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company's stock worth $283,592,000 after buying an additional 176,540 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Pinterest by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock worth $262,695,000 after buying an additional 380,431 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

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.