Insider Selling: Pinterest, Inc. (NYSE:PINS) Director Sells 1,150 Shares of Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the completion of the sale, the director now directly owns 31,386 shares in the company, valued at $972,338.28. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, November 20th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50.
• On Wednesday, October 16th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The stock was sold at an average price of $33.52, for a total value of $38,548.00.

Pinterest Stock Down 0.9 %

Shares of PINS traded down $0.26 during mid-day trading on Thursday, hitting $29.61. The stock had a trading volume of 10,209,645 shares, compared to its average volume of 9,693,514. The company has a market cap of $20.01 billion, a PE ratio of 98.70, a PEG ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company’s fifty day simple moving average is $31.49 and its two-hundred day simple moving average is $34.44.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen initiated coverage on Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. Rosenblatt Securities reduced their price target on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Piper Sandler lowered shares of Pinterest from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $41.00 to $36.00 in a report on Tuesday, December 10th. Finally, Wedbush upgraded Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.46.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd acquired a new position in Pinterest during the 2nd quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in Pinterest in the 2nd quarter valued at approximately $26,000. Rothschild Investment LLC acquired a new position in Pinterest during the 2nd quarter worth $35,000. V Square Quantitative Management LLC bought a new position in shares of Pinterest in the third quarter worth $37,000. Finally, Crewe Advisors LLC increased its holdings in shares of Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the period. Institutional investors and hedge funds 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.