Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram Sells 1,150 Shares

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the transaction, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Gokul Rajaram also recently made the following trade(s):

• On Wednesday, October 16th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $30.01 on Friday. The stock’s 50-day moving average is $31.71 and its 200-day moving average is $35.93. The company has a market cap of $20.28 billion, a P/E ratio of 100.04, a P/E/G ratio of 2.10 and a beta of 1.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Institutional Trading of Pinterest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Point72 Asset Management L.P. bought a new stake in shares of Pinterest in the third quarter valued at approximately $153,829,000. Southpoint Capital Advisors LP acquired a new position in Pinterest during the 3rd quarter valued at $123,006,000. Ontario Teachers Pension Plan Board raised its stake in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Pinterest in the 2nd quarter valued at $98,655,000. Finally, Ninety One UK Ltd grew its position in Pinterest by 44.6% in the 2nd quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock worth $239,991,000 after purchasing an additional 1,679,348 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Oppenheimer reduced their target price on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Piper Sandler reiterated an “overweight” rating and issued a $41.00 target price (down from $45.00) on shares of Pinterest in a report on Friday, November 8th. Benchmark restated a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Susquehanna reduced their price target on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research report on Wednesday, July 31st. Finally, Evercore ISI lowered their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.