Pinterest (NYSE:PINS) PT Lowered to $40.00 at KeyCorp

Pinterest (NYSE:PINS) had its price objective cut by equities research analysts at KeyCorp from $48.00 to $40.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 22.55% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Argus raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Thursday, January 18th. Wedbush lifted their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Evercore ISI lifted their target price on shares of Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Stifel Nicolaus lifted their price target on shares of Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, BMO Capital Markets started coverage on shares of Pinterest in a report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.68.

Pinterest Stock Performance

Shares of NYSE PINS opened at $32.64 on Wednesday. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The stock has a market cap of $22.16 billion, a price-to-earnings ratio of -543.91, a PEG ratio of 4.50 and a beta of 0.99. The firm’s 50-day simple moving average is $34.61 and its 200 day simple moving average is $34.15.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The business had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. On average, sell-side analysts predict that Pinterest will post 0.36 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the transaction, the director now directly owns 33,580 shares in the company, valued at approximately $1,145,078. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock valued at $6,525,231 in the last 90 days. Corporate insiders own 6.85% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of large investors have recently made changes to their positions in PINS. AE Wealth Management LLC grew its position in shares of Pinterest by 28.3% in the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock worth $327,000 after buying an additional 2,662 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Pinterest by 23.0% in the 3rd quarter. ARK Investment Management LLC now owns 572,563 shares of the company’s stock worth $15,476,000 after buying an additional 107,051 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Pinterest in the 3rd quarter worth approximately $846,000. Handelsbanken Fonder AB lifted its stake in shares of Pinterest by 4.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 281,156 shares of the company’s stock valued at $7,600,000 after purchasing an additional 11,811 shares during the period. Finally, Simplicity Solutions LLC lifted its stake in shares of Pinterest by 6.8% in the 3rd quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock valued at $216,000 after purchasing an additional 510 shares during the period. 88.81% of the stock is currently owned by institutional investors.

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.