KeyCorp Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective reduced by equities researchers at KeyCorp from $46.00 to $41.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 29.65% from the company’s current price.

Several other brokerages have also recently weighed in on PINS. The Goldman Sachs Group increased their price target on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Piper Sandler reissued a “neutral” rating and set a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Finally, Oppenheimer lifted their price target on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.30.

Pinterest Stock Up 1.0 %

Shares of PINS stock opened at $31.62 on Tuesday. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The company has a market cap of $21.45 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.95 and a beta of 1.02. The business has a fifty day simple moving average of $34.34 and a 200 day simple moving average of $32.27.

Pinterest (NYSE:PINS) last announced 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 return on equity of 8.10% and a net margin of 51.07%. As a group, equities research analysts anticipate that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. 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 firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,729 shares of company stock worth $3,617,950. Corporate insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its holdings in shares of Pinterest by 3.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after acquiring an additional 339 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Pinterest by 2.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after acquiring an additional 342 shares during the last quarter. Ethos Financial Group LLC lifted its holdings in shares of Pinterest by 3.1% in the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock valued at $342,000 after acquiring an additional 350 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Pinterest by 0.9% in the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after acquiring an additional 372 shares during the last quarter. Finally, Commerce Bank lifted its stake in Pinterest by 3.3% in the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock worth $384,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

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.