Pinterest (NYSE:PINS – Free Report) had its target price lifted by Roth Mkm from $37.00 to $38.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the stock.
A number of other equities research analysts have also issued reports on PINS. New Street Research assumed coverage on Pinterest in a research note on Monday, November 27th. They issued a buy rating and a $48.00 target price on the stock. Susquehanna upped their price target on shares of Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research report on Friday. Piper Sandler upped their price objective on shares of Pinterest from $37.00 to $40.00 and gave the company an overweight rating in a research report on Wednesday, November 29th. JPMorgan Chase & Co. increased their price target 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. Finally, Royal Bank of Canada increased their price objective on shares of Pinterest from $46.00 to $48.00 and gave the stock an outperform rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Pinterest has an average rating of Moderate Buy and a consensus target price of $37.52.
Pinterest Trading Down 3.7 %
Insider Buying and Selling at Pinterest
In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now directly owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction on Thursday, February 1st. The shares were 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 $2,789,741.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $37.95, for a total transaction of $73,395.30. Following the sale, the director now directly owns 39,382 shares of the company’s stock, valued at approximately $1,494,546.90. The disclosure for this sale can be found here. Insiders have sold a total of 77,737 shares of company stock worth $2,826,987 over the last ninety days. Corporate insiders own 6.85% of the company’s stock.
Hedge Funds Weigh In On Pinterest
Several hedge funds have recently bought and sold shares of PINS. Cohanzick Management LLC bought a new stake in shares of Pinterest during the 1st quarter valued at approximately $25,000. GAMMA Investing LLC acquired a new position in shares of Pinterest in the 4th quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Pinterest by 1,093.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,098 shares of the company’s stock valued at $30,000 after acquiring an additional 1,006 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Pinterest during the 4th quarter valued at $30,000. Finally, Washington Trust Advisors Inc. raised its holdings in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the last quarter. 72.63% of the stock is owned by institutional investors.
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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