KeyCorp Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

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

Several other analysts have also recently weighed in on PINS. Wedbush lifted their price target on Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Barclays decreased their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on Pinterest in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company dropped their price objective on Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Seven 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 data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Pinterest Price Performance

NYSE:PINS opened at $30.38 on Monday. The firm’s fifty day moving average price is $31.82 and its two-hundred day moving average price is $36.36. The company 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. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. This represents 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 accessible through this link. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company’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 value of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS grew its position in Pinterest by 20.3% during the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after buying an additional 68,096 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Pinterest by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after purchasing an additional 51,455 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Pinterest by 38.0% in the first quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock valued at $21,358,000 after purchasing an additional 169,052 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in Pinterest in the second quarter worth $5,045,000. Finally, Quantbot Technologies LP raised its stake in shares of Pinterest by 217.8% in the second quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock valued at $5,233,000 after buying an additional 81,380 shares during the period. Hedge funds and other 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.