KeyCorp Lowers Pinterest (NYSE:PINS) Price Target to $39.00

Pinterest (NYSE:PINS) had its target price reduced by equities research analysts at KeyCorp from $45.00 to $39.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 27.16% from the company’s current price.

PINS has been the subject of a number of other research reports. Wells Fargo & Company lowered their target price on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Rosenblatt Securities decreased their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, Robert W. Baird lowered their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Pinterest Trading Up 0.9 %

NYSE PINS opened at $30.67 on Monday. The company has a market capitalization of $21.05 billion, a PE ratio of 102.24, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The business’s 50-day moving average price is $31.79 and its 200 day moving average price is $36.34. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS boosted its position in shares of Pinterest by 20.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after purchasing an additional 68,096 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Pinterest by 13.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after acquiring an additional 51,455 shares during the last quarter. GDS Wealth Management bought a new stake in shares of Pinterest during the 3rd quarter worth $2,517,000. Russell Investments Group Ltd. grew its holdings in shares of Pinterest by 38.0% in the 1st quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock worth $21,358,000 after acquiring an additional 169,052 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of Pinterest in the 2nd quarter worth $5,045,000. 88.81% of the stock is owned by institutional investors and hedge funds.

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.