Pinterest (NYSE:PINS) Stock Rating Upgraded by Guggenheim

Guggenheim upgraded shares of Pinterest (NYSE:PINS) from a neutral rating to a buy rating in a research note released on Monday morning, MarketBeat Ratings reports. They currently have $40.00 target price on the stock, up from their previous target price of $39.00.

PINS has been the topic of several other research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 price target (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Roth Capital set a $32.00 target price on shares of Pinterest in a research report on Monday, February 3rd. Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $34.00 to $47.00 in a research report on Friday, February 7th. KeyCorp decreased their price objective on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Finally, Barclays lifted their target price on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Pinterest Price Performance

Shares of PINS stock opened at $32.96 on Monday. The company has a market capitalization of $22.35 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The firm’s 50-day moving average is $34.60 and its two-hundred day moving average is $32.35. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly 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%. Sell-side analysts forecast that Pinterest will post 0.6 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This trade represents a 3.66 % 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, CFO Donnelly Julia Brau sold 29,605 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $33.95, for a total transaction of $1,005,089.75. Following the completion of the transaction, the chief financial officer now owns 166,408 shares of the company’s stock, valued at approximately $5,649,551.60. The trade was a 15.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 237,417 shares of company stock worth $7,803,946. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of hedge funds and other institutional investors have recently made changes to their positions in PINS. Whipplewood Advisors LLC purchased a new position in Pinterest during the 4th quarter worth approximately $28,000. GAMMA Investing LLC grew its position in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the last quarter. Crewe Advisors LLC increased its holdings in shares of Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares during the period. Strategic Investment Solutions Inc. IL raised its position in Pinterest by 401.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after purchasing an additional 1,204 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the period. Institutional investors and hedge funds 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.