Brokerages Set Pinterest, Inc. (NYSE:PINS) Price Target at $41.26

Shares of Pinterest, Inc. (NYSE:PINS - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-seven research firms that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $41.26.

PINS has been the subject of a number of research reports. KeyCorp lowered their target price on Pinterest from $48.00 to $40.00 and set an "overweight" rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their price objective on shares of Pinterest from $48.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 1st. Roth Mkm lifted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. Piper Sandler lifted their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Pinterest from $38.00 to $44.00 and gave the company a "neutral" rating in a report on Wednesday, May 1st.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares of the company's stock, valued at approximately $13,521,174.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the completion of the transaction, the director now directly owns 33,580 shares of the company's stock, valued at $1,145,078. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,471 shares of company stock valued at $5,773,431. Company insiders own 7.11% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PINS. Cambridge Investment Research Advisors Inc. boosted its stake in Pinterest by 5.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company's stock valued at $1,157,000 after acquiring an additional 2,247 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Pinterest by 31.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 112,753 shares of the company's stock worth $3,048,000 after purchasing an additional 27,087 shares in the last quarter. Jennison Associates LLC grew its stake in Pinterest by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 1,655,031 shares of the company's stock worth $44,735,000 after acquiring an additional 16,351 shares during the period. Teacher Retirement System of Texas grew its stake in Pinterest by 2.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 46,050 shares of the company's stock worth $1,245,000 after acquiring an additional 1,081 shares during the period. Finally, Wealthfront Advisers LLC grew its stake in Pinterest by 68.5% in the 3rd quarter. Wealthfront Advisers LLC now owns 87,869 shares of the company's stock worth $2,375,000 after acquiring an additional 35,717 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Price Performance

Shares of NYSE PINS traded up $0.42 during mid-day trading on Wednesday, hitting $42.44. The company had a trading volume of 9,499,258 shares, compared to its average volume of 10,222,775. The firm has a market cap of $28.99 billion, a P/E ratio of 202.10, a PEG ratio of 4.17 and a beta of 0.99. Pinterest has a 12 month low of $21.48 and a 12 month high of $42.95. The business's 50-day simple moving average is $35.76 and its 200-day simple moving average is $35.49.

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.