Pinterest (NYSE:PINS) Given New $37.00 Price Target at KeyCorp

Pinterest (NYSE:PINS) had its target price reduced by KeyCorp from $41.00 to $37.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Monness Crespi & Hardt upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday, January 10th. Guggenheim reaffirmed a “buy” rating on shares of Pinterest in a report on Tuesday, April 1st. The Goldman Sachs Group raised their target price on Pinterest from $42.00 to $47.00 and gave the stock a “buy” 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 upped their price target for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Finally, Raymond James downgraded shares of Pinterest from an “overweight” rating to a “market perform” rating in a report on Monday. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.45.

Pinterest Trading Down 5.9 %

Pinterest stock traded down $1.65 on Wednesday, hitting $26.49. 8,468,318 shares of the stock traded hands, compared to its average volume of 10,390,717. The business’s fifty day simple moving average is $33.70 and its 200 day simple moving average is $32.24. The firm has a market cap of $17.97 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Pinterest has a 1 year low of $23.68 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the sale, the director now directly owns 6,274 shares of the company’s stock, valued at approximately $196,187.98. This trade represents a 94.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,836 shares of company stock worth $14,832,336. 7.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Leibman Financial Services Inc. raised its stake in shares of Pinterest by 102.2% during the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock valued at $1,862,000 after acquiring an additional 32,464 shares in the last quarter. Janney Capital Management LLC purchased a new position in shares of Pinterest during the fourth quarter valued at $4,289,000. Jones Financial Companies Lllp raised its holdings in shares of Pinterest by 91.3% in the fourth quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock valued at $725,000 after acquiring an additional 11,925 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Pinterest in the fourth quarter worth about $520,000. Finally, Swedbank AB grew its holdings in Pinterest by 2,108.7% during the 4th quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock worth $38,137,000 after acquiring an additional 1,255,513 shares in 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.