KeyCorp Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective reduced by equities research analysts at KeyCorp from $39.00 to $37.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 19.70% from the company’s current price.

PINS has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft started coverage on Pinterest in a research report on Monday, September 23rd. They set a “buy” rating and a $43.00 target price for the company. Roth Mkm reduced their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Friday, November 8th. TD Cowen started coverage on Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Raymond James dropped their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Pinterest Trading Up 0.1 %

Shares of PINS stock opened at $30.91 on Friday. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 103.04, a price-to-earnings-growth ratio of 2.17 and a beta of 1.04. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19. The stock’s 50-day moving average price is $30.64 and its 200-day moving average price is $33.05.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total value of $35,627.00. Following the transaction, the director now owns 31,386 shares in the company, valued at approximately $972,338.28. This represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,157 shares of company stock valued at $592,685. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new stake in shares of Pinterest during the 3rd quarter worth about $153,829,000. Southpoint Capital Advisors LP purchased a new position in shares of Pinterest during the 3rd quarter worth approximately $123,006,000. Ontario Teachers Pension Plan Board lifted its stake in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Pinterest during the second quarter worth $98,655,000. Finally, Nordea Investment Management AB grew its stake in shares of Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after buying an additional 2,093,248 shares in the last quarter. 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.