Pinterest (NYSE:PINS) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Pinterest (NYSE:PINS - Free Report) from a neutral rating to an overweight rating in a research note published on Tuesday, Marketbeat reports. They currently have $40.00 price objective on the stock, up from their prior price objective of $35.00.

Several other analysts have also commented on PINS. KeyCorp boosted their price target on Pinterest from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Wells Fargo & Company dropped their target price on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Guggenheim reduced their price target on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Roth Capital set a $32.00 price objective on shares of Pinterest in a report on Monday, February 3rd. Finally, Barclays cut their target price on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $40.42.

Pinterest Stock Down 0.1%

PINS traded down $0.02 during trading on Tuesday, reaching $33.79. 12,533,960 shares of the company's stock were exchanged, compared to its average volume of 10,882,006. The company has a market capitalization of $22.92 billion, a P/E ratio of 12.56, a PEG ratio of 1.95 and a beta of 0.83. The business has a 50 day moving average price of $28.57 and a 200 day moving average price of $31.26. Pinterest has a fifty-two week low of $23.68 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the firm posted $0.17 earnings per share. Pinterest's revenue was up 15.5% on a year-over-year basis. As a group, research analysts forecast that Pinterest will post 0.6 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Andrea Acosta sold 3,759 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total value of $119,761.74. Following the sale, the chief accounting officer now directly owns 171,373 shares of the company's stock, valued at approximately $5,459,943.78. The trade was a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $31.47, for a total transaction of $3,212,552.01. Following the completion of the transaction, the director now directly owns 8,414 shares of the company's stock, valued at approximately $264,788.58. The trade was a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,062,485 shares of company stock worth $34,694,362. Company insiders own 7.06% of the company's stock.

Institutional Trading of Pinterest

Several hedge funds and other institutional investors have recently modified their holdings of the company. Revolve Wealth Partners LLC bought a new position in shares of Pinterest during the fourth quarter worth about $252,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at approximately $258,000. GDS Wealth Management grew its position in Pinterest by 50.6% in the fourth quarter. GDS Wealth Management now owns 117,071 shares of the company's stock valued at $3,395,000 after purchasing an additional 39,320 shares in the last quarter. Optas LLC increased its stake in Pinterest by 5.7% in the 4th quarter. Optas LLC now owns 21,162 shares of the company's stock valued at $614,000 after buying an additional 1,145 shares during the last quarter. Finally, Tempus Wealth Planning LLC acquired a new stake in Pinterest in the 4th quarter valued at $249,000. Institutional investors and hedge funds 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.