Pinterest (NYSE:PINS) Shares Gap Up to $32.64

Pinterest, Inc. (NYSE:PINS - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $32.64, but opened at $34.32. Pinterest shares last traded at $33.99, with a volume of 2,069,383 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PINS. Piper Sandler reiterated an "overweight" rating and set a $48.00 price target on shares of Pinterest in a research report on Tuesday, March 26th. Stifel Nicolaus increased their price target on shares of Pinterest from $26.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, January 9th. Susquehanna increased their price target on shares of Pinterest from $35.00 to $45.00 and gave the stock a "positive" rating in a research report on Friday, February 9th. Wedbush increased their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Finally, Roth Mkm increased their price target on shares of Pinterest from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.68.

Pinterest Stock Up 4.1 %

The stock has a market capitalization of $23.06 billion, a P/E ratio of -566.07, a P/E/G ratio of 4.50 and a beta of 0.99. The firm's 50 day simple moving average is $34.56 and its two-hundred day simple moving average is $34.14.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The firm had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. As a group, equities research analysts expect that Pinterest, Inc. will post 0.36 earnings per share for the current year.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Donnelly Julia Brau sold 65,972 shares of the business's stock in a transaction dated 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 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock worth $6,525,231 over the last three months. 6.85% of the stock is currently owned by insiders.

Institutional Trading of Pinterest

Several hedge funds have recently added to or reduced their stakes in PINS. GAMMA Investing LLC bought a new stake in Pinterest in the fourth quarter worth about $27,000. Rakuten Securities Inc. bought a new stake in Pinterest in the fourth quarter worth about $30,000. Washington Trust Advisors Inc. raised its position in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company's stock worth $38,000 after acquiring an additional 326 shares during the period. Clear Street Markets LLC bought a new stake in Pinterest in the third quarter worth about $41,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Pinterest in the fourth quarter valued at approximately $43,000. Institutional investors own 88.81% of the company's stock.

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.