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

Pinterest (NYSE:PINS) had its price target cut by KeyCorp from $45.00 to $39.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also weighed in on PINS. Benchmark restated a “hold” rating on shares of Pinterest in a report on Friday. Evercore ISI dropped their price target on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Wolfe Research initiated coverage on Pinterest in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a report on Monday, October 7th. Seven 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Price Performance

PINS opened at $30.38 on Monday. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The stock’s 50 day moving average price is $31.82 and its 200 day moving average price is $36.36. The stock has a market cap of $20.85 billion, a P/E ratio of 101.27, a P/E/G ratio of 2.25 and a beta of 1.02.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest 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 sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were 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 owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’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 sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest during the second quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Pinterest during the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC raised its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in Pinterest during the second quarter worth $35,000. 88.81% of the stock is 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.