Pinterest (NYSE:PINS) PT Raised to $19.00

Pinterest (NYSE:PINS – Get Rating) had its price objective hoisted by analysts at Morgan Stanley from $18.00 to $19.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 29.03% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Citigroup increased their price target on Pinterest from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, October 31st. The Goldman Sachs Group raised Pinterest from a “neutral” rating to a “buy” rating and increased their price target for the stock from $24.00 to $31.00 in a report on Wednesday, October 5th. Royal Bank of Canada increased their price objective on Pinterest from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, October 28th. Credit Suisse Group cut their price objective on Pinterest from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, October 28th. Finally, Guggenheim increased their price objective on Pinterest to $26.00 in a research report on Tuesday, November 1st. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Pinterest currently has a consensus rating of “Hold” and a consensus target price of $28.92.

Pinterest Trading Up 2.6 %

PINS stock opened at $26.77 on Wednesday. The company has a market capitalization of $18.16 billion, a P/E ratio of 382.48 and a beta of 0.97. Pinterest has a twelve month low of $16.14 and a twelve month high of $33.79. The business has a 50 day simple moving average of $24.72 and a 200-day simple moving average of $23.15.

Pinterest (NYSE:PINS – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. Pinterest had a return on equity of 3.10% and a net margin of 2.21%. The business had revenue of $684.55 million during the quarter, compared to the consensus estimate of $664.97 million. Research analysts predict that Pinterest will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Benjamin Silbermann sold 150,000 shares of Pinterest stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $24.50, for a total transaction of $3,675,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Benjamin Silbermann sold 150,000 shares of Pinterest stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $24.50, for a total transaction of $3,675,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey D. Jordan sold 7,500 shares of Pinterest stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $25.23, for a total value of $189,225.00. Following the sale, the director now owns 214,215 shares of the company’s stock, valued at approximately $5,404,644.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,596,714 shares of company stock worth $63,584,714. 7.58% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

A number of hedge funds have recently added to or reduced their stakes in PINS. Acadian Asset Management LLC boosted its stake in Pinterest by 21.9% in the 1st quarter. Acadian Asset Management LLC now owns 13,589 shares of the company’s stock worth $334,000 after buying an additional 2,437 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Pinterest in the 1st quarter worth about $906,000. Raymond James Trust N.A. boosted its stake in Pinterest by 29.0% in the 1st quarter. Raymond James Trust N.A. now owns 11,342 shares of the company’s stock worth $279,000 after buying an additional 2,550 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Pinterest by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 492,299 shares of the company’s stock worth $12,118,000 after buying an additional 51,318 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Pinterest by 261.5% in the 1st quarter. Sei Investments Co. now owns 273,925 shares of the company’s stock worth $6,691,000 after buying an additional 198,153 shares during the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.

About Pinterest

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.