Pinterest (NYSE:PINS) Given New $41.00 Price Target at KeyCorp

Pinterest (NYSE:PINS) had its price target decreased by research analysts at KeyCorp from $46.00 to $41.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 29.65% from the company’s previous close.

PINS has been the subject of several other reports. Barclays lifted their price objective on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Royal Bank of Canada boosted their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $47.00 in a research note on Friday, February 7th. Raymond James upped their price target on shares of Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Rosenblatt Securities increased 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. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $43.30.

Pinterest Stock Performance

Pinterest stock opened at $31.62 on Tuesday. The company has a market capitalization of $21.45 billion, a PE ratio of 11.76, a P/E/G ratio of 1.95 and a beta of 1.02. The company has a 50 day moving average price of $34.34 and a 200-day moving average price of $32.27. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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 year.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,729 shares of company stock valued at $3,617,950 in the last 90 days. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Norges Bank acquired a new position in shares of Pinterest in the fourth quarter valued at approximately $358,205,000. Marshall Wace LLP raised its position in shares of Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after buying an additional 6,129,985 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Pinterest in the third quarter valued at approximately $153,829,000. Finally, Ameriprise Financial Inc. raised its position in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after buying an additional 4,527,902 shares during the last quarter. Hedge funds and other 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.