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

Pinterest (NYSE:PINS) had its price objective dropped by KeyCorp from $41.00 to $37.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 50.53% from the stock’s previous close.

A number of other research analysts have also recently issued reports on PINS. Rosenblatt Securities boosted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays upped 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. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday, January 10th. Wedbush boosted their target price on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald raised their price target on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.68.

Pinterest Price Performance

Shares of Pinterest stock traded down $0.10 on Wednesday, hitting $24.58. 2,232,072 shares of the company’s stock traded hands, compared to its average volume of 10,298,561. The firm’s 50-day moving average price is $33.89 and its two-hundred day moving average price is $32.28. The stock has a market capitalization of $16.67 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Pinterest has a one year low of $23.68 and a one year high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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%. On average, analysts forecast that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the sale, the director now owns 6,274 shares of the company’s stock, valued at $195,497.84. This trade represents a 94.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the company’s stock in a transaction 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 transaction, the insider now owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock valued at $14,832,336 over the last three months. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Pinterest by 104.3% in the 4th 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. Ameriprise Financial Inc. lifted its holdings in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after buying an additional 4,527,902 shares in the last quarter. FMR LLC boosted its position in shares of Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock valued at $365,381,000 after acquiring an additional 316,633 shares during the period. Norges Bank acquired a new position in shares of Pinterest in the fourth quarter valued at about $358,205,000. Finally, Marshall Wace LLP increased its position in Pinterest by 134.1% during the fourth 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 period. Institutional investors own 88.81% of the company’s stock.

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.