Pinterest (NYSE:PINS) Given New $39.00 Price Target at KeyCorp

Pinterest (NYSE:PINS) had its target price cut 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.

A number of other equities analysts have also recently weighed in on PINS. Citigroup lowered their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Rosenblatt Securities cut their target price on Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Susquehanna decreased their target price on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research note on Wednesday, July 31st. Oppenheimer dropped their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Pinterest Stock Performance

PINS opened at $29.36 on Monday. The company has a fifty day moving average of $31.76 and a two-hundred day moving average of $36.27. The stock 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. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’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 owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 9.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 3.30 % 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 insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PINS. Paloma Partners Management Co lifted its stake in Pinterest by 1,328.6% in the third quarter. Paloma Partners Management Co now owns 60,000 shares of the company’s stock valued at $1,942,000 after acquiring an additional 55,800 shares during the last quarter. True Wealth Design LLC grew its holdings in Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares in the last quarter. Maverick Capital Ltd. increased its position in Pinterest by 47.6% during the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after acquiring an additional 18,430 shares during the period. JAT Capital Mgmt LP increased its stake in Pinterest by 123.4% during the 3rd quarter. JAT Capital Mgmt LP now owns 701,500 shares of the company’s stock worth $22,708,000 after acquiring an additional 387,500 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Pinterest by 8.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after acquiring an additional 119,367 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.