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

Pinterest (NYSE:PINS) had its price objective decreased by equities researchers at KeyCorp from $41.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 50.53% from the stock’s previous close.

Several other brokerages also recently commented on PINS. Barclays boosted their price objective on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Morgan Stanley upped their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. TD Cowen decreased their target price on Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday. Guggenheim reissued a “buy” rating on shares of Pinterest in a report on Tuesday, April 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $42.68.

Pinterest Stock Down 0.4 %

Shares of PINS traded down $0.10 during trading hours on Wednesday, hitting $24.58. 2,232,072 shares of the company were exchanged, compared to its average volume of 10,298,561. Pinterest has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 1.95 and a beta of 0.99. The firm’s fifty day moving average is $33.89 and its 200 day moving average is $32.28.

Pinterest (NYSE:PINS) last announced its quarterly earnings data 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 return on equity of 8.10% and a net margin of 51.07%. Analysts anticipate that Pinterest will post 0.6 EPS for the current year.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares in the company, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock worth $14,832,336 in the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PINS. Whipplewood Advisors LLC bought a new stake in shares of Pinterest during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC increased its stake in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its stake in Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after purchasing an additional 1,204 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after buying an additional 590 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of Pinterest by 484.1% in the fourth quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after buying an additional 1,680 shares in the last quarter. 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.