KeyCorp Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective cut by investment analysts at KeyCorp from $41.00 to $37.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 41.25% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Barclays increased their target price on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, February 7th. The Goldman Sachs Group boosted their target price on shares of Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 7th. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, January 10th. Finally, Guggenheim reiterated a “buy” rating on shares of Pinterest in a research note on Tuesday, April 1st. Eight research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.45.

Pinterest Trading Down 6.9 %

Pinterest stock opened at $26.20 on Wednesday. The business’s 50 day simple moving average is $33.56 and its 200 day simple moving average is $32.20. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19. The company has a market cap of $17.77 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.95 and a beta of 0.99.

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 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%. As a group, equities research analysts forecast that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’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 transaction, the insider now directly owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total value of $3,192,135.41. Following the completion of the sale, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $196,187.98. This trade represents a 94.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock worth $14,832,336 in the last quarter. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD boosted its stake in shares of Pinterest by 104.3% during 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 purchasing an additional 12,986,310 shares during the period. Norges Bank purchased a new stake in Pinterest during the 4th quarter valued at $358,205,000. Marshall Wace LLP grew its holdings in Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock worth $310,352,000 after acquiring an additional 6,129,985 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after acquiring an additional 4,527,902 shares during the period. Finally, Contour Asset Management LLC bought a new position in shares of Pinterest during the fourth quarter valued at about $86,330,000. 88.81% of the stock is currently owned by institutional investors.

About Pinterest

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.