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

Pinterest, Inc. (NYSE:PINS)’s share price gapped up prior to trading 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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wedbush raised their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Susquehanna raised their price objective on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Piper Sandler restated an “overweight” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Tuesday, March 26th. JPMorgan Chase & Co. raised their price objective on shares of Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, BMO Capital Markets initiated coverage on shares of Pinterest in a research note on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price target on the stock. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.68.

Pinterest Trading Up 4.0 %

The stock has a market capitalization of $23.06 billion, a P/E ratio of -543.91, a PEG ratio of 4.50 and a beta of 0.99. The company has a fifty day simple moving average of $34.61 and a two-hundred day simple moving average of $34.15.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. As a group, analysts forecast that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders sold a total of 184,471 shares of company stock valued at $6,525,231 in the last ninety days. 6.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently modified their holdings of the business. Legacy Capital Group California Inc. grew its position in shares of Pinterest by 1.7% in the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock valued at $598,000 after purchasing an additional 267 shares during the period. Venture Visionary Partners LLC grew its position in shares of Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after purchasing an additional 324 shares during the period. Washington Trust Advisors Inc. grew its position in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Pinterest by 0.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after acquiring an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Pinterest by 40.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after acquiring an additional 378 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.