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

Pinterest (NYSE:PINS) had its target price decreased by KeyCorp from $39.00 to $37.00 in a research report sent to investors on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other research analysts have also issued reports on PINS. JPMorgan Chase & Co. dropped their price target 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 cut Pinterest from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $41.00 to $36.00 in a report on Tuesday, December 10th. Wedbush raised Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Pinterest Stock Performance

Shares of PINS stock opened at $30.72 on Friday. The firm has a fifty day moving average of $30.61 and a 200-day moving average of $32.96. The stock has a market cap of $20.76 billion, a price-to-earnings ratio of 102.40, a P/E/G ratio of 2.17 and a beta of 1.04. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19.

Insider Activity

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated 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 $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,157 shares of company stock valued at $592,685. 7.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Maverick Capital Ltd. raised its holdings in Pinterest by 47.6% in the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after purchasing an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Pinterest by 8.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after buying an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after acquiring an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after acquiring an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its holdings in shares of Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after acquiring an additional 68,096 shares in the last quarter. 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.