KeyCorp Cuts Pinterest (NYSE:PINS) Price Target to $40.00

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

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Pinterest from $34.00 to $38.00 and gave the stock a neutral rating in a report on Friday, February 9th. Wedbush lifted their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Royal Bank of Canada lifted their target price on shares of Pinterest from $46.00 to $48.00 and gave the stock an outperform rating in a research report on Friday, February 9th. Susquehanna lifted their target price on shares of Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research report on Friday, February 9th. Finally, Roth Mkm lifted their target price on shares of Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Pinterest currently has a consensus rating of Moderate Buy and a consensus target price of $37.68.

Pinterest Stock Up 4.1 %

Shares of NYSE PINS opened at $33.97 on Wednesday. Pinterest has a twelve month low of $20.60 and a twelve month high of $41.60. The firm has a market cap of $23.06 billion, a P/E ratio of -566.07, a PEG ratio of 4.50 and a beta of 0.99. The company has a 50 day moving average of $34.56 and a 200 day moving average of $34.14.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The company had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. As a group, equities analysts expect that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock worth $6,525,231 in the last 90 days. 6.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in shares of Pinterest during the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Pinterest during the 4th quarter valued at about $30,000. Washington Trust Advisors Inc. raised its position in shares of Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Pinterest during the 4th quarter valued at about $43,000. Finally, Blue Trust Inc. grew its holdings in Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after purchasing an additional 557 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other 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.