Pinterest (NYSE:PINS) PT Lowered to $40.00

Pinterest (NYSE:PINS) had its price target decreased by investment analysts at KeyCorp from $48.00 to $40.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 21.14% from the company’s current price.

A number of other research analysts have also recently weighed in on PINS. Wedbush boosted their target price on shares of Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Stifel Nicolaus upped their target price on shares of Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 target price on shares of Pinterest in a report on Tuesday, March 26th. JPMorgan Chase & Co. upped their target price on shares of Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, BMO Capital Markets started coverage on shares of Pinterest in a report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 target price on the stock. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.68.

Pinterest Price Performance

NYSE:PINS opened at $33.02 on Wednesday. The firm has a 50-day moving average of $34.74 and a 200-day moving average of $34.12. The company has a market cap of $22.42 billion, a PE ratio of -550.24, a PEG ratio of 4.49 and a beta of 0.99. Pinterest has a one year low of $20.60 and a one year high of $41.60.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The business had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. On average, equities research analysts expect that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the transaction, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,471 shares of company stock valued at $6,525,231. Company insiders own 6.85% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the company. AE Wealth Management LLC boosted its holdings in shares of Pinterest by 28.3% during the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock valued at $327,000 after acquiring an additional 2,662 shares during the last quarter. ARK Investment Management LLC boosted its holdings in shares of Pinterest by 23.0% during the 3rd quarter. ARK Investment Management LLC now owns 572,563 shares of the company’s stock valued at $15,476,000 after acquiring an additional 107,051 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Pinterest during the 3rd quarter valued at about $846,000. Handelsbanken Fonder AB boosted its holdings in shares of Pinterest by 4.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 281,156 shares of the company’s stock valued at $7,600,000 after acquiring an additional 11,811 shares during the last quarter. Finally, Simplicity Solutions LLC boosted its holdings in shares of Pinterest by 6.8% during the 3rd quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock valued at $216,000 after acquiring an additional 510 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

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.