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

Pinterest (NYSE:PINS) had its price target reduced by stock analysts at KeyCorp from $39.00 to $37.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 20.44% from the company’s current price.

A number of other brokerages also recently commented on PINS. JPMorgan Chase & Co. reduced their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Piper Sandler downgraded shares of Pinterest from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $41.00 to $36.00 in a research report on Tuesday, December 10th. UBS Group reduced their price objective on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Tuesday, December 10th. Finally, Raymond James reduced their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Eight investment 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.33.

Pinterest Stock Down 0.5 %

NYSE PINS opened at $30.72 on Friday. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The business’s 50-day moving average price is $30.61 and its 200 day moving average price is $32.88. The firm has a market cap of $20.76 billion, a P/E ratio of 102.40, a P/E/G ratio of 2.17 and a beta of 1.04.

Insider Activity at Pinterest

In other Pinterest 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 transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,157 shares of company stock worth $592,685. 7.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently modified their holdings of PINS. Brown Shipley& Co Ltd acquired a new position in Pinterest during the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC lifted its stake in 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 last quarter. V Square Quantitative Management LLC acquired a new position in shares of Pinterest during the third quarter valued at $37,000. Crewe Advisors LLC grew its position in shares of Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Pinterest by 8,261.1% in the 3rd 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 during the period. 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.