Pinterest (NYSE:PINS) Given New $36.00 Price Target at Morgan Stanley

Pinterest (NYSE:PINS) had its price target raised by Morgan Stanley from $35.00 to $36.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

PINS has been the subject of several other reports. KeyCorp reduced their target price on Pinterest from $39.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a report on Monday. Piper Sandler cut shares of Pinterest from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $36.00 in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a research note on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Finally, Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.86.

Pinterest Trading Down 0.8 %

Shares of PINS stock opened at $30.42 on Monday. The firm has a market capitalization of $20.56 billion, a P/E ratio of 101.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.04. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The firm’s fifty day simple moving average is $30.58 and its 200 day simple moving average is $32.70.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the transaction, the director now owns 31,386 shares of the company’s stock, valued at approximately $972,338.28. This trade represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,157 shares of company stock worth $592,685. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently made changes to their positions in the stock. Leibman Financial Services Inc. lifted its stake in Pinterest by 102.2% during the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock worth $1,862,000 after purchasing an additional 32,464 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Pinterest by 49.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 23,304 shares of the company’s stock valued at $676,000 after buying an additional 7,709 shares in the last quarter. Claro Advisors LLC purchased a new stake in Pinterest in the fourth quarter worth approximately $226,000. Graypoint LLC bought a new position in Pinterest during the fourth quarter valued at approximately $317,000. Finally, Nordea Investment Management AB raised its stake in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after acquiring an additional 2,093,248 shares in the last quarter. 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.