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

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

PINS has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research report on Monday, October 7th. Citigroup decreased their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 price objective (down from $45.00) on shares of Pinterest in a research note on Friday, November 8th. Rosenblatt Securities reduced their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Trading Down 2.1 %

Shares of NYSE PINS opened at $29.36 on Monday. The firm has a market capitalization of $20.15 billion, a price-to-earnings ratio of 97.87, a PEG ratio of 2.29 and a beta of 1.02. The business has a fifty day simple moving average of $31.76 and a 200 day simple moving average of $36.27. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s 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 transaction, the chief financial officer now owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. The trade was a 9.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares of the company’s stock, valued at $1,129,154.72. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. 7.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest in the second quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new stake in Pinterest in the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC boosted 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 worth $33,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC lifted its position in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in Pinterest in the 2nd quarter worth $35,000. 88.81% of the stock is owned by institutional investors.

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.