Pinterest (NYSE:PINS) Trading 2.1% Higher – Here’s What Happened

Pinterest, Inc. (NYSE:PINS)’s share price traded up 2.1% on Friday . The company traded as high as $32.01 and last traded at $32.09. 1,179,625 shares traded hands during trading, a decline of 88% from the average session volume of 9,827,686 shares. The stock had previously closed at $31.42.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Raymond James raised their price objective on shares of Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays raised their price objective on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Oppenheimer raised their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.30.

Pinterest Trading Up 3.6 %

The company’s fifty day moving average is $34.35 and its 200 day moving average is $32.27. The company has a market cap of $22.07 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares in the company, valued at approximately $1,139,880.34. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 207,812 shares of company stock valued at $6,798,857. 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. Price T Rowe Associates Inc. MD grew its holdings in Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after acquiring an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after purchasing an additional 4,527,902 shares in the last quarter. State Street Corp boosted its stake in shares of Pinterest by 1.2% during the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after purchasing an additional 156,748 shares in the last quarter. FMR LLC boosted its stake in shares of Pinterest by 2.6% during the 4th quarter. FMR LLC now owns 12,599,356 shares of the company’s stock valued at $365,381,000 after purchasing an additional 316,633 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Pinterest during the 4th quarter valued at about $358,205,000. Institutional investors own 88.81% of the company’s stock.

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.