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

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

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

• 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 transaction of $38,548.00.

Pinterest Stock Performance

NYSE:PINS traded down $0.26 during trading hours on Friday, hitting $29.05. The stock had a trading volume of 3,614,770 shares, compared to its average volume of 9,599,891. The business’s 50 day moving average is $31.71 and its 200-day moving average is $35.93. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 97.70, a P/E/G ratio of 2.13 and a beta of 1.02. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Robert W. Baird decreased their price objective on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Citigroup decreased their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Finally, Raymond James lowered their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Institutional Trading of Pinterest

Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in Pinterest during the third quarter worth about $153,829,000. Southpoint Capital Advisors LP acquired a new stake in shares of Pinterest during the third quarter worth about $123,006,000. Ontario Teachers Pension Plan Board lifted its holdings in shares of 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 in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Pinterest in the 2nd quarter valued at approximately $98,655,000. Finally, Ninety One UK Ltd increased its stake in Pinterest by 44.6% during 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 in the last quarter. Institutional investors 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.