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

Pinterest (NYSE:PINS) had its target price reduced by KeyCorp from $46.00 to $41.00 in a research report sent to investors on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other research firms also recently issued reports on PINS. Piper Sandler restated a “neutral” rating and set a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a report on Friday, February 7th. Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, January 10th. Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Finally, Oppenheimer lifted their target price on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.30.

Pinterest Price Performance

Shares of PINS opened at $31.25 on Tuesday. The company has a market capitalization of $21.19 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest has a one year low of $27.00 and a one year high of $45.19. The company’s fifty day moving average price is $34.32 and its 200 day moving average price is $32.28.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate 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 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeremy S. Levine sold 50,535 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the completion of the sale, the director now directly owns 1,156,693 shares of the company’s stock, valued at $39,304,428.14. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the company’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 sale, the insider now directly owns 254,211 shares of the company’s stock, 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 105,729 shares of company stock valued at $3,617,950 over the last ninety days. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several large investors have recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in shares of Pinterest in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC boosted its holdings in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares during the period. Crewe Advisors LLC boosted its holdings in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after buying an additional 550 shares during the period. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Pinterest by 401.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after buying an additional 1,204 shares during the period. Finally, True Wealth Design LLC boosted its holdings in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the period. Institutional investors own 88.81% of the company’s stock.

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.