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

Pinterest (NYSE:PINS) had its price target lowered by KeyCorp from $48.00 to $40.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also weighed in on PINS. Wedbush upped their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock a neutral rating in a report on Friday, February 9th. Piper Sandler reissued an overweight rating and set a $48.00 price objective on shares of Pinterest in a report on Tuesday, March 26th. JPMorgan Chase & Co. increased their price objective on shares of Pinterest from $34.00 to $38.00 and gave the stock a neutral rating in a report on Friday, February 9th. Roth Mkm increased their price objective on shares of Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a report on Friday, February 9th. Finally, Argus raised shares of Pinterest from a hold rating to a buy rating and set a $45.00 price objective on the stock in a report on Thursday, January 18th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $37.68.

Pinterest Stock Performance

Shares of PINS stock opened at $33.96 on Wednesday. The firm has a fifty day moving average of $34.56 and a 200-day moving average of $34.19. Pinterest has a 52-week low of $20.60 and a 52-week high of $41.60. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of -565.91, a P/E/G ratio of 4.65 and a beta of 0.99.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping 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 analyst estimates of $988.62 million. On average, sell-side analysts predict that Pinterest will post 0.36 earnings per share for the current year.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 184,471 shares of company stock worth $6,525,231 in the last ninety days. Company insiders own 6.85% of the company’s stock.

Institutional Trading of Pinterest

Several hedge funds have recently bought and sold shares of PINS. Norges Bank acquired a new stake in Pinterest during the 4th quarter worth approximately $241,229,000. Wellington Management Group LLP raised its holdings in Pinterest by 1,188.9% during the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock worth $221,850,000 after buying an additional 5,524,796 shares during the period. Fred Alger Management LLC raised its holdings in Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after buying an additional 4,670,394 shares during the period. Ameriprise Financial Inc. raised its holdings in Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after buying an additional 3,390,924 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Pinterest by 128.2% during the 1st quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock worth $193,473,000 after buying an additional 3,134,776 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.