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

Pinterest (NYSE:PINS - Get Free Report) had its price target lowered by research analysts at KeyCorp from $45.00 to $39.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's target price would suggest a potential upside of 28.33% from the company's previous close.

A number of other equities research analysts have also weighed in on PINS. Benchmark restated a "hold" rating on shares of Pinterest in a research report on Friday. Piper Sandler reaffirmed an "overweight" rating and issued a $41.00 price objective (down previously from $45.00) on shares of Pinterest in a research note on Friday. Royal Bank of Canada reiterated an "outperform" rating and set a $48.00 target price on shares of Pinterest in a research report on Thursday, September 12th. Evercore ISI decreased their price target on shares of Pinterest from $50.00 to $48.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Pinterest Price Performance

PINS traded up $1.21 during trading on Monday, hitting $30.39. 23,194,539 shares of the stock traded hands, compared to its average volume of 9,566,425. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The company has a market cap of $20.85 billion, a price-to-earnings ratio of 102.14, a PEG ratio of 2.25 and a beta of 1.02. The business has a 50 day moving average price of $31.82 and a 200 day moving average price of $36.36.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly owns 33,686 shares of the company's stock, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the company'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 sale, 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.11% of the company's stock.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brown Shipley& Co Ltd purchased a new position in Pinterest in the second quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new position in Pinterest during the second quarter valued at $26,000. Hexagon Capital Partners LLC increased its position in 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 raised its stake in shares of Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company's stock valued at $34,000 after buying an additional 405 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of Pinterest during the 2nd quarter valued at $35,000. 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.