KeyCorp Cuts Pinterest (NYSE:PINS) Price Target to $37.00

Pinterest (NYSE:PINS) had its target price reduced by KeyCorp from $41.00 to $37.00 in a research report released on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Oppenheimer raised their price objective on Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. TD Cowen lowered their target price on Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday. The Goldman Sachs Group lifted their price target on shares of Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $50.00 price target (up previously from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.23.

Pinterest Price Performance

NYSE PINS opened at $26.35 on Wednesday. Pinterest has a one year low of $23.68 and a one year high of $45.19. The business has a 50 day simple moving average of $33.42 and a 200 day simple moving average of $32.16. The stock has a market capitalization of $17.87 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Equities analysts expect that Pinterest will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total value of $3,192,135.41. Following the completion of the transaction, the director now directly owns 6,274 shares in the company, valued at approximately $196,187.98. The trade was a 94.21 % 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 the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 453,836 shares of company stock worth $14,832,336. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

A number of institutional investors have recently added to or reduced their stakes in PINS. Leibman Financial Services Inc. increased its position 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 buying an additional 32,464 shares during the period. Janney Capital Management LLC purchased a new stake in Pinterest in the 4th quarter worth approximately $4,289,000. Jones Financial Companies Lllp boosted its holdings in Pinterest by 91.3% in the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock valued at $725,000 after purchasing an additional 11,925 shares during the period. Everence Capital Management Inc. bought a new position in Pinterest in the 4th quarter valued at $520,000. Finally, Swedbank AB grew its position in shares of Pinterest by 2,108.7% during the 4th quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock valued at $38,137,000 after purchasing an additional 1,255,513 shares in the last quarter. Hedge funds and other institutional investors 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.