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

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

Other research analysts have also recently issued research reports about the company. UBS Group decreased their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Robert W. Baird lowered their target price on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Oppenheimer dropped their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. TD Cowen started coverage on shares of Pinterest in a research note on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Roth Mkm dropped their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.33.

Pinterest Price Performance

Shares of PINS stock opened at $30.72 on Friday. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19. The firm has a market capitalization of $20.76 billion, a price-to-earnings ratio of 102.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.04. The business has a 50 day simple moving average of $30.61 and a 200 day simple moving average of $32.96.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares of the company’s stock, valued at approximately $1,129,154.72. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $592,685 in the last 90 days. 7.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Graypoint LLC bought a new position in shares of Pinterest in the fourth quarter valued at approximately $317,000. Nordea Investment Management AB increased its position in Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock worth $111,515,000 after acquiring an additional 2,093,248 shares during the period. Everence Capital Management Inc. bought a new stake in Pinterest in the 4th quarter valued at $520,000. GAMMA Investing LLC grew its position in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Pinterest during the 3rd quarter worth about $87,000. Institutional investors and hedge funds 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.