Pinterest (NYSE:PINS) Price Target Cut to $40.00 by Analysts at KeyCorp

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

Other equities analysts have also issued reports about the company. Rosenblatt Securities reaffirmed a buy rating and issued a $45.00 target price on shares of Pinterest in a research report on Friday, February 9th. Susquehanna upped their target price on Pinterest from $35.00 to $45.00 and gave the company a positive rating in a research report on Friday, February 9th. Argus raised 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. Stifel Nicolaus upped their target price on Pinterest from $26.00 to $32.00 and gave the company a buy rating in a research report on Tuesday, January 9th. Finally, Royal Bank of Canada upped their target price on Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $37.68.

Pinterest Stock Down 0.5 %

NYSE PINS opened at $32.85 on Wednesday. The stock has a market cap of $22.30 billion, a PE ratio of -547.41, a P/E/G ratio of 4.53 and a beta of 0.99. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The business has a 50 day moving average price of $34.68 and a two-hundred day moving average price of $34.16.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The firm had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Sell-side analysts anticipate that Pinterest will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 184,471 shares of company stock valued at $6,525,231 over the last three months. Company insiders own 6.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. AE Wealth Management LLC boosted its stake in Pinterest by 28.3% during the third quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock valued at $327,000 after buying an additional 2,662 shares in the last quarter. ARK Investment Management LLC boosted its stake in Pinterest by 23.0% during the third quarter. ARK Investment Management LLC now owns 572,563 shares of the company’s stock valued at $15,476,000 after buying an additional 107,051 shares in the last quarter. Oak Thistle LLC bought a new position in Pinterest during the third quarter valued at about $846,000. Handelsbanken Fonder AB boosted its stake in Pinterest by 4.4% during the third quarter. Handelsbanken Fonder AB now owns 281,156 shares of the company’s stock valued at $7,600,000 after buying an additional 11,811 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its stake in Pinterest by 6.8% during the third quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock valued at $216,000 after buying an additional 510 shares in the last quarter. Institutional investors 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.