KeyCorp Cuts Pinterest (NYSE:PINS) Price Target to $41.00

Pinterest (NYSE:PINS) had its price objective reduced by KeyCorp from $46.00 to $41.00 in a research note released on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other analysts have also issued reports on the stock. Roth Capital set a $32.00 price target on shares of Pinterest in a research note on Monday, February 3rd. Barclays increased their target price on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, January 10th. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Friday, February 7th. Finally, TD Cowen began coverage on Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.30.

Pinterest Stock Performance

NYSE:PINS opened at $31.40 on Tuesday. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a 50 day moving average price of $34.35 and a 200 day moving average price of $32.27. The stock has a market capitalization of $21.29 billion, a P/E ratio of 11.67, a PEG ratio of 1.95 and a beta of 1.02.

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 return on equity of 8.10% and a net margin of 51.07%. Research analysts forecast that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now directly owns 254,211 shares of the company’s stock, valued at $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,812 shares of company stock valued at $6,798,857 in the last three months. 7.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Atria Investments Inc grew its position in Pinterest by 4.0% in the 3rd quarter. Atria Investments Inc now owns 26,686 shares of the company’s stock valued at $864,000 after buying an additional 1,034 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Pinterest by 45.6% during the third quarter. Victory Capital Management Inc. now owns 414,285 shares of the company’s stock worth $13,410,000 after acquiring an additional 129,676 shares during the period. Metis Global Partners LLC raised its holdings in Pinterest by 6.8% during the third quarter. Metis Global Partners LLC now owns 10,594 shares of the company’s stock worth $343,000 after purchasing an additional 675 shares in the last quarter. CIBC Asset Management Inc lifted its position in Pinterest by 5.5% in the third quarter. CIBC Asset Management Inc now owns 21,257 shares of the company’s stock valued at $688,000 after purchasing an additional 1,105 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Pinterest by 7.4% in the 3rd quarter. Empowered Funds LLC now owns 9,165 shares of the company’s stock valued at $297,000 after purchasing an additional 635 shares in 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.