Wedbush Upgrades Pinterest (NYSE:PINS) to “Strong-Buy”

Wedbush upgraded shares of Pinterest (NYSE:PINS) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI cut their target price on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company cut their target price on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $41.00 target price (down previously from $45.00) on shares of Pinterest in a research report on Friday. Rosenblatt Securities cut their target price on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of Pinterest in a report on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and an average target price of $42.00.

Pinterest Stock Up 4.1 %

Shares of NYSE PINS opened at $30.38 on Monday. The stock has a market capitalization of $20.85 billion, a price-to-earnings ratio of 101.27, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The firm has a 50-day moving average price of $31.82 and a 200 day moving average price of $36.36. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.11% 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 the company. Brown Shipley& Co Ltd bought a new position in Pinterest during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new position in Pinterest during the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC boosted its stake in Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC boosted its stake in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after acquiring an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in Pinterest during the 2nd quarter valued at $35,000. 88.81% of the stock is owned by institutional investors and hedge funds.

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.