Pinterest, Inc. (NYSE:PINS) Director Sells $34,994.50 in Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at approximately $920,081.48. This represents a 3.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, December 18th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The stock was sold at an average price of $30.98, for a total value of $35,627.00.
• 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.

Pinterest Trading Down 0.8 %

NYSE:PINS opened at $30.39 on Friday. The firm has a market capitalization of $20.54 billion, a PE ratio of 101.29, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The stock has a 50 day moving average of $30.39 and a 200-day moving average of $32.57. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. boosted its position in Pinterest by 17.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 43,786 shares of the company’s stock worth $1,930,000 after acquiring an additional 6,564 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Pinterest by 9.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 549,409 shares of the company’s stock worth $24,212,000 after acquiring an additional 48,276 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Pinterest by 10.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 811,648 shares of the company’s stock valued at $35,769,000 after buying an additional 77,914 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Pinterest by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,489,313 shares of the company’s stock worth $65,635,000 after buying an additional 184,639 shares during the period. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of Pinterest in the second quarter worth approximately $365,000. 88.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Piper Sandler downgraded shares of Pinterest from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $41.00 to $36.00 in a research note on Tuesday, December 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Tuesday, December 10th. Wells Fargo & Company dropped their target price on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. reduced their price target on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.86.

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.