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

Pinterest (NYSE:PINS) had its target price lowered by equities research analysts at KeyCorp from $39.00 to $37.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 19.70% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Raymond James cut their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. TD Cowen started coverage on shares of Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective on the stock. Robert W. Baird reduced their price target on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. UBS Group lowered their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Roth Mkm cut their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.33.

Pinterest Stock Performance

NYSE:PINS opened at $30.91 on Friday. The stock has a 50-day simple moving average of $30.64 and a 200-day simple moving average of $33.05. The stock has a market cap of $20.89 billion, a P/E ratio of 103.04, a P/E/G ratio of 2.17 and a beta of 1.04. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s 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 approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,157 shares of company stock valued at $592,685. 7.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest in the second quarter worth $25,000. GAMMA Investing LLC lifted its position in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Pinterest in the 3rd quarter valued at about $37,000. Crewe Advisors LLC increased its position 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 acquiring an additional 550 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings in Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after acquiring an additional 1,487 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.