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

Pinterest (NYSE:PINS) had its target price dropped by KeyCorp from $41.00 to $37.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 41.25% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, January 10th. Roth Capital set a $32.00 price objective on Pinterest in a research report on Monday, February 3rd. TD Cowen reduced their target price on shares of Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday. Bank of America lowered their price target on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Pinterest from $42.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.45.

Pinterest Trading Down 6.9 %

Shares of NYSE PINS opened at $26.20 on Wednesday. The firm has a fifty day simple moving average of $33.56 and a two-hundred day simple moving average of $32.20. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19. The firm has a market capitalization of $17.77 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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%. On average, sell-side analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was 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 in the company, valued at $8,350,831.35. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 453,836 shares of company stock worth $14,832,336. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Large investors have recently added to or reduced their stakes in the business. Leibman Financial Services Inc. boosted its stake in shares of Pinterest by 102.2% during the 4th quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock worth $1,862,000 after acquiring an additional 32,464 shares during the last quarter. Janney Capital Management LLC purchased a new position in Pinterest during the fourth quarter valued at $4,289,000. Jones Financial Companies Lllp grew its holdings in Pinterest by 91.3% during the fourth 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. purchased a new stake in Pinterest in the fourth quarter worth about $520,000. Finally, Swedbank AB raised its stake in shares of Pinterest by 2,108.7% in the fourth quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock worth $38,137,000 after buying an additional 1,255,513 shares during the period. 88.81% of the stock is currently owned by institutional investors.

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.