KeyCorp Trims Pinterest (NYSE:PINS) Target Price to $43.00

Pinterest (NYSE:PINS) had its target price reduced by KeyCorp from $45.00 to $43.00 in a research report released on Wednesday morning, MarketBeat reports. KeyCorp currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Wedbush reaffirmed a neutral rating and issued a $46.00 price objective on shares of Pinterest in a research note on Wednesday, July 24th. Sanford C. Bernstein boosted their price target on Pinterest from $35.00 to $38.00 and gave the stock a market perform rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price objective on Pinterest from $44.00 to $38.00 and set a neutral rating on the stock in a report on Wednesday. Piper Sandler reduced their target price on Pinterest from $52.00 to $45.00 and set an overweight rating for the company in a report on Wednesday. Finally, BMO Capital Markets increased their price target on Pinterest from $45.00 to $46.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $42.71.

Pinterest Price Performance

Shares of PINS stock opened at $29.10 on Wednesday. Pinterest has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The stock’s 50-day moving average is $41.47 and its two-hundred day moving average is $38.39. The firm has a market cap of $19.88 billion, a P/E ratio of 138.58, a PEG ratio of 3.13 and a beta of 0.97.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.04) earnings per share. As a group, research analysts expect that Pinterest will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the transaction, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a filing with the SEC, which is available at this link. In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the sale, the insider now directly owns 307,256 shares of the company’s stock, valued at $12,726,543.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the transaction, the director now directly owns 29,712 shares of the company’s stock, valued at $1,255,332. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock worth $2,191,304 over the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several large investors have recently made changes to their positions in PINS. GAMMA Investing LLC bought a new position in Pinterest during the 4th quarter valued at about $27,000. Rakuten Securities Inc. bought a new position in shares of Pinterest in the fourth quarter valued at approximately $30,000. Hexagon Capital Partners LLC boosted its holdings in shares of Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares in the last quarter. Rothschild Investment LLC bought a new stake in Pinterest during the 2nd quarter worth approximately $35,000. Finally, Quent Capital LLC increased its holdings in Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 460 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

About Pinterest

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.