Pinterest’s (PINS) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Pinterest (NYSE:PINSFree Report) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $45.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on Pinterest from $32.00 to $34.00 and gave the company a neutral rating in a report on Tuesday, October 31st. Jefferies Financial Group raised Pinterest from a hold rating to a buy rating and increased their target price for the stock from $32.00 to $41.00 in a report on Thursday, November 30th. Morgan Stanley increased their target price on Pinterest from $24.00 to $25.00 and gave the stock an equal weight rating in a report on Tuesday, October 31st. Royal Bank of Canada raised Pinterest from a sector perform rating to an outperform rating and increased their target price for the stock from $32.00 to $46.00 in a report on Monday, December 11th. Finally, Stifel Nicolaus increased their target price on Pinterest from $26.00 to $32.00 and gave the stock a buy rating in a report on Tuesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $37.52.

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Pinterest Stock Down 9.5 %

Pinterest stock opened at $36.85 on Friday. The business has a 50 day moving average price of $37.15 and a two-hundred day moving average price of $31.26. Pinterest has a 12 month low of $20.60 and a 12 month high of $41.60.

Insider Transactions at Pinterest

In other news, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the transaction, the director now directly owns 74,215 shares in the company, valued at approximately $2,789,741.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Christine Deputy sold 22,459 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $37.27, for a total transaction of $837,046.93. Following the sale, the insider now 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the sale, the director now directly owns 74,215 shares in the company, valued at approximately $2,789,741.85. The disclosure for this sale can be found here. Insiders have sold 77,737 shares of company stock worth $2,826,987 in the last three months. Insiders own 6.85% of the company’s stock.

Institutional Trading of Pinterest

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

Further Reading

Analyst Recommendations for Pinterest (NYSE:PINS)

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