Brokerages Set Pinterest, Inc. (NYSE:PINS) PT at $40.42

Shares of Pinterest, Inc. (NYSE:PINS) have been assigned an average rating of “Moderate Buy” from the thirty ratings firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and twenty-four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $40.42.

A number of equities research analysts recently issued reports on the company. Bank of America dropped their target price on Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Benchmark decreased their price target on Pinterest from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Barclays decreased their price target on Pinterest from $42.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. upgraded Pinterest from a “neutral” rating to an “overweight” rating and raised their price target for the company from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Finally, The Goldman Sachs Group decreased their price target on Pinterest from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 14th.

Pinterest Price Performance

NYSE PINS opened at $34.23 on Thursday. The firm has a market cap of $23.21 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.69 and a beta of 0.91. The stock’s 50-day moving average is $30.28 and its 200-day moving average is $31.63. Pinterest has a one year low of $23.68 and a one year high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The firm had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same period in the prior year, the business posted $0.17 EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts anticipate that Pinterest will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $34.82, for a total value of $3,554,530.06. Following the completion of the transaction, the director now directly owns 8,414 shares in the company, valued at approximately $292,975.48. This trade represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeremy S. Levine sold 6,274 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $34.11, for a total value of $214,006.14. Following the completion of the transaction, the director now owns 1,158,833 shares of the company’s stock, valued at $39,527,793.63. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,177,104 shares of company stock valued at $38,966,047. Corporate insiders own 7.06% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several large investors have recently bought and sold shares of the company. Voya Investment Management LLC raised its position in Pinterest by 23.2% in the first quarter. Voya Investment Management LLC now owns 1,377,109 shares of the company’s stock valued at $42,690,000 after purchasing an additional 259,485 shares during the last quarter. Howe & Rusling Inc. raised its position in Pinterest by 6.3% in the first quarter. Howe & Rusling Inc. now owns 174,329 shares of the company’s stock valued at $5,404,000 after purchasing an additional 10,276 shares during the last quarter. First Hawaiian Bank increased its stake in shares of Pinterest by 180.3% in the first quarter. First Hawaiian Bank now owns 22,226 shares of the company’s stock valued at $689,000 after buying an additional 14,296 shares during the period. Anderson Financial Strategies LLC acquired a new stake in shares of Pinterest in the first quarter valued at about $60,000. Finally, Strs Ohio acquired a new stake in shares of Pinterest in the first quarter valued at about $15,035,000. 88.81% of the stock is currently owned by institutional investors.

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.