Pinterest (NYSE:PINS) Given New $37.00 Price Target at KeyCorp

Pinterest (NYSE:PINS) had its price target lowered by KeyCorp from $39.00 to $37.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms also recently commented on PINS. Oppenheimer decreased their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Rosenblatt Securities dropped their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $41.00 price target on shares of Pinterest in a research note on Monday, October 7th. Finally, Roth Mkm dropped their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.33.

Pinterest Stock Performance

Shares of PINS stock opened at $30.72 on Friday. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The company has a market capitalization of $20.76 billion, a price-to-earnings ratio of 102.40, a PEG ratio of 2.17 and a beta of 1.04. The company has a 50-day simple moving average of $30.61 and a 200 day simple moving average of $32.80.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the sale, the director now owns 33,686 shares of the company’s stock, valued at $1,129,154.72. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $592,685 over the last quarter. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several institutional investors have recently added to or reduced their stakes in the stock. Maverick Capital Ltd. lifted its position in shares of Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after purchasing an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Pinterest by 8.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after buying an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after acquiring an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Pinterest by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after acquiring an additional 87,041 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of Pinterest by 20.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after acquiring an additional 68,096 shares in the last quarter. 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.