Pinterest (NYSE:PINS) Price Target Cut to $37.00 by Analysts at KeyCorp

Pinterest (NYSE:PINS - Free Report) had its price objective cut by KeyCorp from $39.00 to $37.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on PINS. Roth Mkm lowered their price objective on shares of Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a research note on Friday, November 8th. Piper Sandler cut shares of Pinterest from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $41.00 to $36.00 in a research note on Tuesday, December 10th. Rosenblatt Securities reduced their target price on Pinterest from $48.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Oppenheimer dropped their price target on Pinterest from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $48.00 price target on shares of Pinterest in a report on Tuesday, December 10th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Pinterest has an average rating of "Moderate Buy" and a consensus target price of $41.33.

Pinterest Stock Down 0.5 %

NYSE PINS traded down $0.15 during mid-day trading on Friday, hitting $30.72. The stock had a trading volume of 11,897,887 shares, compared to its average volume of 9,918,664. The company has a 50 day simple moving average of $30.64 and a 200 day simple moving average of $33.05. The company has a market cap of $20.76 billion, a price-to-earnings ratio of 102.40, a P/E/G ratio of 2.17 and a beta of 1.04. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,845 shares of the firm's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the sale, the chief accounting officer now directly owns 158,468 shares of the company's stock, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $592,685 over the last 90 days. Corporate insiders own 7.11% of the company's stock.

Institutional Trading of Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of PINS. Graypoint LLC acquired a new position in Pinterest during the 4th quarter worth $317,000. Nordea Investment Management AB lifted its position in shares of Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company's stock worth $111,515,000 after purchasing an additional 2,093,248 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Pinterest in the fourth quarter worth about $520,000. GAMMA Investing LLC increased its holdings in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after buying an additional 415 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Pinterest during the third quarter valued at approximately $87,000. 88.81% of the stock is owned by hedge funds and other 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.