Pinterest (NYSE:PINS) Price Target Cut to $40.00 by Analysts at KeyCorp

Pinterest (NYSE:PINS) had its price target reduced by KeyCorp from $48.00 to $40.00 in a report released on Wednesday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. raised their target price on Pinterest from $34.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Roth Mkm raised their target price on Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Rosenblatt Securities restated a buy rating and set a $45.00 target price on shares of Pinterest in a research report on Friday, February 9th. Susquehanna raised their target price on Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada lifted their price objective on Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $37.68.

Pinterest Trading Down 0.5 %

Shares of NYSE:PINS opened at $32.85 on Wednesday. Pinterest has a 1-year low of $20.60 and a 1-year high of $41.60. The firm has a market capitalization of $22.30 billion, a PE ratio of -547.41, a PEG ratio of 4.53 and a beta of 0.99. The business’s 50 day moving average is $34.68 and its 200-day moving average is $34.16.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. On average, sell-side analysts predict that Pinterest will post 0.36 EPS for the current year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the sale, the director now directly owns 33,580 shares of the company’s stock, valued at $1,145,078. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the sale, the director now directly owns 33,580 shares of the company’s stock, valued at $1,145,078. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.08, for a total value of $701,600.00. Following the sale, the director now directly owns 34,215 shares of the company’s stock, valued at $1,200,262.20. 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 over the last three months. Company insiders own 6.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PINS. GAMMA Investing LLC acquired a new position in Pinterest in the fourth quarter valued at about $27,000. Rakuten Securities Inc. acquired a new position in Pinterest in the fourth quarter valued at about $30,000. Washington Trust Advisors Inc. lifted its holdings in shares of Pinterest by 46.0% in the fourth 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 in the last quarter. Clear Street Markets LLC bought a new stake in shares of Pinterest in the third quarter valued at about $41,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Pinterest in the fourth quarter valued at about $43,000. 88.81% of the stock is 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.