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

Pinterest (NYSE:PINS) had its price objective trimmed by KeyCorp from $46.00 to $41.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also weighed in on the company. Roth Capital set a $32.00 target price on Pinterest in a report on Monday, February 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. TD Cowen assumed coverage on shares of Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price for the company. Rosenblatt Securities upped their price target on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald raised their price objective on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $43.30.

Pinterest Stock Down 0.6 %

Shares of NYSE PINS opened at $31.40 on Tuesday. The stock has a market capitalization of $21.29 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a 50-day moving average price of $34.35 and a 200 day moving average price of $32.27.

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

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the sale, the director now owns 6,274 shares of the company’s stock, valued at approximately $195,497.84. This represents a 94.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 254,211 shares in the company, valued at $8,350,831.35. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 207,812 shares of company stock worth $6,798,857 in the last ninety days. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several large investors have recently added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD grew its stake in shares of Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after buying an additional 12,986,310 shares in the last quarter. Norges Bank purchased a new position in Pinterest in the 4th quarter worth approximately $358,205,000. Marshall Wace LLP grew its position in Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after acquiring an additional 6,129,985 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest during the third quarter valued at approximately $153,829,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after purchasing an additional 4,527,902 shares in the last quarter. 88.81% of the stock is currently 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.