Insider Selling: Pinterest, Inc. (NYSE:PINS) Director Sells $34,189.50 in Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $33.52, for a total value of $38,548.00.

Pinterest Price Performance

Pinterest stock opened at $30.02 on Friday. The stock’s 50 day moving average is $31.73 and its 200 day moving average is $35.85. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm has a market cap of $20.29 billion, a P/E ratio of 100.07, a P/E/G ratio of 2.10 and a beta of 1.02.

Analysts Set New Price Targets

PINS has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $41.00 price target (down previously from $45.00) on shares of Pinterest in a report on Friday, November 8th. Robert W. Baird lowered their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price target on shares of Pinterest in a report on Monday, October 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Leibman Financial Services Inc. increased its position in shares of Pinterest by 0.9% during the second quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after buying an additional 266 shares during the period. Sequoia Financial Advisors LLC boosted its position in Pinterest by 5.2% during the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after acquiring an additional 313 shares during the last quarter. Raymond James Trust N.A. boosted its position in Pinterest by 1.1% during the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after acquiring an additional 319 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after acquiring an additional 339 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after acquiring an additional 372 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.