Pinterest (NYSE:PINS) Price Target Increased to $48.00 by Analysts at Royal Bank of Canada

Pinterest (NYSE:PINSFree Report) had its price target upped by Royal Bank of Canada from $46.00 to $48.00 in a research note issued to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts have also recently commented on PINS. Argus upgraded shares of Pinterest from a hold rating to a buy rating and set a $45.00 price objective for the company in a research note on Thursday, January 18th. Susquehanna raised their price objective on shares of Pinterest from $35.00 to $45.00 and gave the company a positive rating in a research note on Friday. Rosenblatt Securities reiterated a buy rating and issued a $45.00 price objective on shares of Pinterest in a research note on Friday. Bank of America upgraded shares of Pinterest from a neutral rating to a buy rating and lifted their target price for the stock from $32.00 to $37.00 in a research report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Pinterest from $32.00 to $34.00 and gave the stock a neutral rating in a research report on Tuesday, October 31st. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Pinterest presently has a consensus rating of Moderate Buy and an average target price of $37.52.

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Pinterest Trading Down 9.5 %

Shares of NYSE PINS opened at $36.85 on Friday. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60. The firm has a 50-day moving average price of $37.15 and a 200 day moving average price of $31.26.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 11,410 shares of Pinterest stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $32.28, for a total value of $368,314.80. Following the completion of the transaction, the insider now directly owns 216,326 shares of the company’s stock, valued at $6,983,003.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Christine Deputy sold 22,459 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $37.27, for a total value of $837,046.93. Following the completion of the sale, the insider now directly owns 222,881 shares of the company’s stock, valued at approximately $8,306,774.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,410 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $32.28, for a total value of $368,314.80. Following the completion of the transaction, the insider now owns 216,326 shares of the company’s stock, valued at $6,983,003.28. The disclosure for this sale can be found here. Insiders have sold 77,737 shares of company stock worth $2,826,987 over the last 90 days. Corporate insiders own 6.85% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of large investors have recently added to or reduced their stakes in PINS. Acadian Asset Management LLC boosted its stake in Pinterest by 21.9% in the first quarter. Acadian Asset Management LLC now owns 13,589 shares of the company’s stock valued at $334,000 after buying an additional 2,437 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Pinterest during the first quarter valued at approximately $906,000. Raymond James Trust N.A. boosted its position in Pinterest by 29.0% in the first quarter. Raymond James Trust N.A. now owns 11,342 shares of the company’s stock worth $279,000 after purchasing an additional 2,550 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Pinterest by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 492,299 shares of the company’s stock worth $12,118,000 after purchasing an additional 51,318 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Pinterest by 261.5% in the first quarter. Sei Investments Co. now owns 273,925 shares of the company’s stock worth $6,691,000 after purchasing an additional 198,153 shares during the last quarter. Institutional investors own 72.63% of the company’s stock.

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 ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.

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