Pinterest (NYSE:PINS) Shares Gap Up to $32.64

Pinterest, Inc. (NYSE:PINS)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $32.64, but opened at $34.32. Pinterest shares last traded at $33.99, with a volume of 2,069,383 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Susquehanna boosted 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, February 9th. Royal Bank of Canada upped their price target on shares of Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Evercore ISI lifted their price objective on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. JPMorgan Chase & Co. lifted their price objective on Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.

Pinterest Stock Up 4.0 %

The firm has a 50 day moving average of $34.61 and a 200 day moving average of $34.15. The firm has a market cap of $23.06 billion, a PE ratio of -543.91, a P/E/G ratio of 4.50 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. On average, research analysts anticipate that Pinterest, Inc. will post 0.36 EPS for the current year.

Insider Activity at Pinterest

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the transaction, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock valued at $6,525,231 over the last 90 days. 6.85% of the stock is owned by insiders.

Institutional Trading of Pinterest

A number of institutional investors have recently modified their holdings of the company. Legacy Capital Group California Inc. boosted its holdings in shares of Pinterest by 1.7% during the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after purchasing an additional 267 shares during the period. Venture Visionary Partners LLC boosted its holdings in shares of Pinterest by 0.7% during the fourth quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after purchasing an additional 324 shares during the period. Washington Trust Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 326 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in shares of Pinterest by 0.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after purchasing an additional 348 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Pinterest by 40.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after purchasing an additional 378 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.