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

Pinterest (NYSE:PINS - Free Report) had its price objective reduced by KeyCorp from $48.00 to $40.00 in a report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

PINS has been the topic of several other reports. Evercore ISI increased their price objective on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research note on Friday, January 26th. Royal Bank of Canada lifted their price objective on Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research note on Friday, February 9th. Argus upgraded shares of Pinterest from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Thursday, January 18th. Roth Mkm lifted their price target on shares of Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Finally, Piper Sandler reissued an overweight rating and issued a $48.00 price objective on shares of Pinterest in a research report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $37.68.

Pinterest Stock Down 0.5 %

NYSE PINS traded down $0.17 during trading on Wednesday, hitting $32.85. The stock had a trading volume of 8,500,316 shares, compared to its average volume of 9,414,656. The company has a market capitalization of $22.30 billion, a PE ratio of -547.41, a PEG ratio of 4.49 and a beta of 0.99. The firm has a 50 day moving average price of $34.74 and a 200 day moving average price of $34.12. Pinterest has a twelve month low of $20.60 and a twelve month high of $41.60.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $981.26 million during the quarter, compared to analysts' expectations of $988.62 million. On average, sell-side analysts anticipate that Pinterest will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 65,972 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction 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 completion of the sale, the insider now owns 500,504 shares of the company's stock, valued at $17,762,886.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 392,829 shares of the company's stock, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders sold a total of 184,471 shares of company stock worth $6,525,231 in the last 90 days. Company insiders own 6.85% of the company's stock.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in Pinterest during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. bought a new position in Pinterest during the 4th quarter worth $30,000. Washington Trust Advisors Inc. lifted its stake in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company's stock valued at $38,000 after buying an additional 326 shares during the last quarter. Clear Street Markets LLC bought a new position in shares of Pinterest during the third quarter worth about $41,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Pinterest in the 4th quarter worth about $43,000. 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.