Pinterest (NYSE:PINS) Stock Price Up 2.1% – Should You Buy?

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

Analyst Ratings Changes

A number of brokerages have weighed in on PINS. Piper Sandler reaffirmed a “neutral” rating and set a $41.00 target price (up from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Royal Bank of Canada boosted their price target on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Morgan Stanley boosted their price target on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Wedbush boosted their price target on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.30.

Pinterest Stock Performance

The company has a 50 day simple moving average of $34.39 and a two-hundred day simple moving average of $32.28. The firm has a market cap of $22.01 billion, a PE ratio of 12.06, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the sale, the director now owns 30,236 shares in the company, valued at $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the completion of the sale, the director now owns 6,274 shares in the company, valued at $195,497.84. The trade was a 94.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,812 shares of company stock worth $6,798,857 over the last quarter. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

Large investors have recently bought and sold shares of the business. Maverick Capital Ltd. raised its holdings in Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after purchasing an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after purchasing an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after acquiring an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Pinterest by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after acquiring an additional 87,041 shares during the last quarter. Finally, Leibman Financial Services Inc. raised its holdings in shares of Pinterest by 102.2% during the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock valued at $1,862,000 after acquiring an additional 32,464 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

About Pinterest

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.