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

Pinterest (NYSE:PINS) had its target price cut by KeyCorp from $39.00 to $37.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on PINS. UBS Group decreased their target price on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Raymond James reduced their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Wedbush upgraded shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Benchmark restated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Finally, Robert W. Baird decreased their target price on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.33.

Pinterest Stock Down 0.5 %

PINS opened at $30.72 on Friday. The stock’s 50 day moving average price is $30.61 and its two-hundred day moving average price is $32.80. The firm has a market capitalization of $20.76 billion, a P/E ratio of 102.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.04. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19.

Insider Activity

In other news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Wednesday, November 27th. The shares were 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 directly owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the transaction, the director now directly owns 31,386 shares of the company’s stock, valued at $972,338.28. This trade represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock worth $592,685 over the last quarter. 7.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caprock Group LLC acquired a new position in Pinterest during the second quarter worth $353,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Pinterest in the 2nd quarter valued at about $52,000. Choreo LLC acquired a new stake in Pinterest in the 2nd quarter valued at about $671,000. American Century Companies Inc. grew its holdings in Pinterest by 57.6% during the second quarter. American Century Companies Inc. now owns 3,042,065 shares of the company’s stock worth $134,064,000 after purchasing an additional 1,112,163 shares during the period. Finally, Achmea Investment Management B.V. increased its position in Pinterest by 202.4% during the second quarter. Achmea Investment Management B.V. now owns 208,548 shares of the company’s stock worth $9,190,000 after buying an additional 139,576 shares during the last quarter. 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.